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Carbon Trading Exchange RIP

Remember carbon trading, the new ‘market-friendly’ approach to environmental regulation that was going to save the planet and earn money for traders?

From the Wall Street Journal:

IntercontinentalExchange Inc. told traders Friday that it would shut down its U.S. emissions derivatives platform, a year after acquiring its parent only to suffer sparse trading as the prospects of a federal carbon-reduction plan remain dim.

How much foundation money, how much political organizing, how much effort went into this epochal policy fail?

Unfortunately, greens show few signs of having learned from any of this.  Chances are, the next wave of green activism will be as poorly conceptualized, poorly led and as ineffective as the last.

Too bad.  The environment could use some help.

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  • Swearjar

    While I agree with you, it seems the Australian Government (a minority Labor government, depending on Greens support to stay in power) is proceeding come hell or high water with its own carbon tax. According to government statements, the rest of the world is moving ahead with carbon pollution reduction schemes, and we need to as well. Of course, this raises which alternate reality they live in …

  • This is THE first encouraging sign that Climategate has had a material impact on institutional and governmental insanity that pours money into worthless green scemes despite the science. Their theory appears to be that they can negate the exposure of climate voodoo as superstition by sheer force of money.

    @Swearjar The electorate is about to kick the feckless Green government out of office. Alas, keeping it out requires tireless vigilance that most voters are not willing to do.

  • laperry

    Carbon based life forms everywhere sigh with relief, releasing their CO2 prayers of thanks into the atmosphere, where trees and plants inhale them with gusto. The carbon cycle welcomes us back, though we never really left.

  • the reason CCX failed has nothing whatsoever to do with Government policy, although as billions start to see the horrendous impacts of impending climat change Americans have a big case to answer. CCX was badly designed- and there was no genuine independant checks on its credits in temrs fo environmetnal integrity or issuance. that part fo teh group ICE acquired had effectiuvelty failed much earlier,witgh credit vlaues at onlt 10 cents down form almost $8 – and despite thsio closurthe Global Voluntary market contunues to grow. Carbon Trade Exchange offers a new alternative that is werb-based, global and uses third party registries to house legtimate, their party verfified global credits form all the major credit standards.the enviroenmtet doe need help- and urgently. CTX will lead the renewed attempts to do so.

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