Tuesday, December 22, 2009

Carbon Credit Price Plunges

Carbon prices fall in wake of Copenhagen

Carbon prices plunged yesterday in the aftermath of the Copenhagen conference on climate change, dealing a blow to the credibility of the European Union's carbon-trading scheme.

Prices for carbon permits for December 2010 delivery, the benchmark contract for pricing European permits, dropped nearly 10 per cent in early trading, before recovering to end the day 8.3 per cent lower at €12.41, according to the Financial Times

Did the Volcano pay for Carbon Use?


Almost all of the 47,000 residents living on the slopes of a rumbling volcano in the central Philippines have moved to emergency shelters, and lava and earthquakes Tuesday heralded what officials say could be a major eruption.

“Hazardous eruption … can happen today or in the next few days,” said chief state volcanologist Renato Solidum, adding that an eruption also may not happen. “Nobody has a 100 percent accuracy.”

Ash columns were seen rising during a cloud break and Solidum said his team recorded 1,266 volcanic quakes in the last 24 hours, down from nearly 2,000 the previous day. He said that while the quakes were fewer, they were larger.

The emission of sulfur dioxide — an indication of magma rising inside the volcano — was measured at 6,530 tons per day, slightly less than 7,000 tons on Sunday, but still very high, Solidum said. The normal gas emission is 500 tons per day.