Steve Milloy: Chicago Climate Exchange ends carbon trading
The Chicago Climate Exchange sold out, much to the pleasure of Algore, to a greater fool just in time, namely shortly before the market for US carbon trading collapsed. We can only hope that the November 2 elections spell the end of any serious discussion of the tax disguised as carbon trading, at least the end for quite a few years.
With trading volumes like THESE, it's no wonder they closed down...
They're not giving up, though, on trying to collect commissions and make a market around a product nobody wants; now they're going to focus on "carbon offset" trading. So, if government decides to make us all plant trees, maybe CCX will actually have a business. Well, to be fair, the probably do have a small business dealing with the pointless trading forced by European governments and by those countries so self-destructive as to participate in things like the Kyoto Protocols.
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