From Tom Nelson: Plunging prices at the Chicago Climate Exchange
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ABOVE: CCX CFI End of Day Summary: Offsets now selling for 25 cents each
Back on September 2nd, 2006/2007 instruments were selling as low as 20 cents and held that way until Sept 8th. So this is a boost. See the table below. Zimbabwe money notes are doing pretty well on Ebay. Right now they are actually more valuable than carbon credit notes.
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[2008: Offsets were selling for over $7 each]
[Spin from Sept 9, 2009]: “Carbon market evolving”
“The U.S. appetite for carbon trading is strong CCX is now trading 3,000 to 5,000 contracts per day, with 20 percent of the largest carbon dioxide-emitting utilities in the U.S. participating; 11 percent of the Fortune 500 companies; and 17 percent of the Dow Jones Industrials companies.”
A recent Congressional Budget Office study projected that carbon offsets could be a $60 billion market in 2012, on a par with U.S. corn and wheat markets, and “as it grows beyond that, it will make forestry mitigation opportunities more important,” says Jeffrey O’Hara, senior economist, Chicago Climate Exchange (CCX).
