Carbon Credit Market Imploding: CCX now 10 cents a tonne

This is why we need to pass cap-and-trade. All those people who got in at $7/ton have lost their shirts and need to be bailed out (I sincerely hope that Al Gore was heavily invested). This is just another market where people have invested (based on bogus science, in this case) and lost, and that means that somehow, they need bailing out (privatize the wealth, socialize the debt). One really “feel-good” way of doing this would be to pass cap-and-trade and essentially force people to start buying carbon credits en masse, which should get those prices back up there, while transferring still more of our wealth from us to them.

From WattsUpWithThat.com:

We knew this was coming. Carbon Financial Instruments are now trading for 10 cents per metric tonne on the Chicago Climate Exchange. I wonder if the investors are reacting to the Hockey Stick Implosion news? As reported on WUWT, less than one month ago it was 25 cents a tonne, and a year ago it was over 1 dollar.  The all time high was May 2008 at over 7 dollars a tonne. Today: poof.

Looks like there was a big sell-off today. Carbon Investor confidence must be “unprecedented”.

The chart is only a sliver from rock bottom:

Anyone who was a founding member at 1 dollar has now lost 90% of their investment.

Tough noogies for them.

In other news, Zimbabwe dollars are still selling for higher value than CCX CFI’s  on Ebay.

I wonder if this fellow might have to drop his price for the domain name? Maybe he’d take a barter deal for some CCX instruments?

carbon_credit_review_domain

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