Carbon credits: 'SELL! SELL! SELL!'

The Financial Times reports that investors who hope to capitalize on your misery by getting into the carbon-trading market are losing money after the failure of the Copenhagen's climate summit to produce anything resembling a real or binding agreement on limiting carbon emissions.

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…Carbon traders blamed the price fall on the Copenhagen conference, which produced an accord among the world's biggest developed and developing countries to limit their greenhouse gas emissions, but omitted details on what those limits would be.

If and when the government forces you to pay extra for your energy in the name of some presumed environmental benefit, these are the folks who will become rich at your expense.

Beltway ConfidentialUS

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