Perhaps reacting to the news yesterday about the IPCC getting taken to the woodshed, the growing number of stories in the MSM about the IPCC failure, and the recent layoffs at CCX, carbon trading has once again been devalued by the market. Amazingly, it lost 50% of it’s value for 2006, 2007, and 2008 “carbon instruments” today. Here’s the CCX front page graph at closing today:
The CCX end of day table really says it all, 50% off, from a dime to a nickel in a day:
It must have really killed the person to have to put in a nickel for the closing value today.
Unless CCX starts making adjustments in single cents, the next downward adjustment is zero. The latest CCX advisory says they will be closed for labor day, and will reopen for trading September 7th. One wonders.