Wednesday, December 23, 2009

Copen-faken Kills Alliance and Carbon Trading

Copen-faken. It was supposed to be the culminating moment for Obama to begin his world rule. As it turns out, there's not much to the 'unprecedented agreement.' What happened? Climategate. Al Gore caught in a lie. Prince Charles opened his stupid trap again. Hypocrisy. Communist tirades and protests. Infighting. Bickering. And cold weather. LOL! So much for that bullshit. Rest in pieces!

Cracks emerged on Tuesday in the alliance on climate change formed at the Copenhagen conference last week, with leading developing countries criticising the resulting accord.

The so-called BASIC countries – Brazil, South Africa, India and China – backed the accord in a meeting with the US on Friday night, and it was also supported by nearly all other nations at the talks, including all of the biggest emitters.

[From / Global Economy - Climate change alliance crumbling]

Carbon prices plunged yesterday in the aftermath of the Copenhagen conference on climate change, dealing a blow to the credibility of the European Union's carbon-trading scheme.

Prices for carbon permits for December 2010 delivery, the benchmark contract for pricing European permits, dropped nearly 10 per cent in early trading, before recovering to end the day 8.3 per cent lower at €12.41.

Lower prices give companies less incentive to invest in cutting their greenhouse gas output. Analysts estimate that prices of more than €40 a tonne are required to stimulate investment in new low-carbon technologies.

[From / UK - Carbon prices fall in wake of Copenhagen]