Selloff Caused by Gordon Browne's Support of Carbon Trading

Ok, that is a bit silly. But he did come out and say 'support this'. But I think we carbon traders will be better off without his support.

Pressue on the EUAs was caused by other things.

Emailing: 3918

AAU Sales

In New Zealand a deal for AAUs was finally done between two forestry clients. This bodes well for the market although I suspect the government under John Key wishes the deal never happened. I am not sure about this, but the way they have been ducking and weaving away from the issue seems to be on purpose.

Matt Carr, the carbon reporter at Bloomberg reports that these credits are subject to NZU deliveries, which is waiting and waiting...

EUAs Troublesome At These Levels

The market over the last few weeks has really confused me. The EUA volumes have been stupendous. Bluenext climbed steadily for the last two months from 2 to 4 million per day to over ten million.

And then ... stopped.

I mean, the volumes came right back down.

Maybe it was as though everyone was running for the door and then when the pullback came, they all reconsidered.

Not sure.

Peter Mandelson and Spock

Do you know what Peter Mandelson and Spock have in common?

According to an activist from "Plane Stupid" its the green stuff in their bodies.


I will forgive you for not knowing that rather than being an advocate of "Green" things, the blighty activist, Leila Deen, describes him thusly:

"the only thing green about Peter Mandelson is the slime coursing through his veins".

This was after she doused Mandy with a cup of green slime (or what was described as her home-made pea soup). Not one for the cookbooks, I gather.

But I will not forgive you for not knowing that Spock has green blood.

Carbon Cheap for Two Years

From Bloomberg

Carbon Permits May Remain Cheap for Two Years, IEA's Birol Says

By Jeremy van Loon and Todd White
Feb. 5 (Bloomberg) -- Prices for carbon-emission permits may
remain near record lows until at least 2011 because of stalled
demand from polluting industries and governments, the International
Energy Agency's chief economist said.
Many countries have lost interest in forcing companies to pay
to release greenhouse gases to stem climate change as coping with
the recession and credit crunch take precedence, the IEA's Fatih
Birol said in an interview in Berlin.
Ending the credit crisis and recession dominate agendas of
governments that had planned to expand carbon-emission caps to
slash greenhouse-gas emissions blamed for climate change. Lack of
financing has delayed or killed about one-quarter of pending energy
projects, particularly to build power plants, Birol said.
"This is bad news for carbon permits," he said after
speaking at an atomic-energy conference in the German capital.
"There is a weakening of the climate-change issue and this is not
good news as we are coming up to the Copenhagen meeting."
The United Nations has called on 192 countries to negotiate a
new climate-protection treaty to be signed at the end of this year
in Copenhagen. The UN wants a new agreement ready to take effect
after 2012, when carbon-emission limits expire for 37 countries
under the existing Kyoto Protocol climate treaty.
EU carbon dioxide allowances on the European Climate Exchange
in London traded yesterday at a record low of 9.99 euros ($12.86)
to release a metric ton of CO2. They traded as much as three times
higher, or 30.90 euros a ton, on July 2.
The Paris-based IEA advises the U.S., the U.K. and 26 other
oil-importing nations on energy policies.

--With reporting by Mathew Carr in London. Editor: Randall
Hackley

Job Searching in a Falling Market

"we are a boutique recruitment agency, with a large emphasis on the Global Carbon Markets"

Jankin Rooke recruitment.

from LOL Cats

 

eliminate