Green billionaires take a hit as markets nosedive
Global warming con men hoping to bag windfall profits from the climate change scam are wincing today after carbon trading markets nose dived following the failure at Copenhagen to secure legally binding targets on restricting CO2 emissions.
Barclays Capital director Trevor Sikorski labeled the Copenhagen result “very disappointing” and said that the outlook for the global carbon market was bearish.
European Union carbon markets dropped by nearly 9 percent this morning before stabilizing.
One dealer described the market as like “a falling knife,” reports the Financial Times.
“UN-backed certified emissions reductions for December 2010 delivery fell 6.6 per cent to €11.05 a tonne, th
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