Anthony Watts at “Watts Up With That?” reports:
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.
That sound you hear is the carbon trading lobby panicking in desperation for Congress to return from its August recess. It’s more obvious than ever that only government can save them now and, barring some shot in the arm to revive them (like cap-and-trade), this project of the community organizer Barack Obama is in deep trouble.