From Tim Blair:
The rush for carbon millions – or sky money, as it’s beautifully known in Papua New Guinea – is slowing lately:
The unqualified undone by the UN; perfect. Meanwhile, carbon prices keep dropping:
But the carbon market is holding up well in at least one sector, as Anthony Watts reports:
As Watts points out, you can presently buy a ton of carbon offsets on the Chicago Climate Exchange for just 20 cents. Yet an Australian company believes it can earn $1.6 billion by trading carbon offsets at a slightly higher rate:
The only possible way offsets can reach that value, of course, will be if emissions trading schemes are established. Follow the money.
[Yes indeed, when it comes to climate change in particular, or environmentalism in general, it does pay to follow the money.]