The only lower price than today’s closing price on a ton of carbon is ZERO.

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. Here’s the CCX front page graph at closing today:

Enlarged here.

The CCX end of day table really says it all, 50% off, from a dime to a nickel in a day:

CCX end of day, August 31, 2010

It must have really killed the person to have to put in a nickel for the closing value today.

Charcoal briquettes and coal have more value than a ton of CCX carbon instruments these days.

Unless CCX starts making adjustments in single cents, the next downward adjustment is zero. The latest CCX advisory says they will be closed for labor day, and will reopen for trading September 7th. One wonders. See post here.

See Alan Caruba’s Carbon Dioxide Riches Disappear here.

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Retro back to early last year for this story in the Canada Free Press:

Obama’s involvement in Chicago Climate Exchange -the rest of the story
By Judi McLeod Wednesday, March 25, 2009

Good news to know that the truth will always out - even when you’re Barack Obama.

“Obama Years Ago Helped Fund Carbon Program He Is Now Pushing Through Congress’ is a FOXNews story by Ed Barnes.  In short, ‘While on the board of a Chicago-based charity, Barack Obama helped fund a carbon trading exchange that will likely play a critical role in the cap-and-trade carbon reduction program he is now trying to push through Congress as president.”

The charity was the Joyce Foundation on whose board of directors Obama served and which gave nearly $1.1 million in two separate grants that were “instrumental in developing and launching the privately-owned Chicago Climate Exchange, which now calls itself “North America’s only cap and trade system for all six greenhouse gases, with global affiliates and projects worldwide.”

And that’s only the beginning of this tawdry tale, Mr. Barnes.

The “privately-owned” Chicago Climate Exchange is heavily influenced by Obama cohorts Al Gore and Maurice Strong. For years now Strong and Gore have been cashing in on that lucrative cottage industry known as man-made global warming. Strong is on the board of directors of the Chicago Climate Exchange, Wikipedia-described as “the world’s first and North America’s only legally binding greenhouse gas emission registry reduction system for emission sources and offset projects in North America and Brazil.”

Gore, self-proclaimed Patron Saint of the Environment, buys his carbon off-sets from himself - the Generation Investment Management LLP, “an independent, private, owner-managed partnership established in 2004 with offices in London and Washington, D.C., of which he is both chairman and founding partner. The Generation Investment Management business has considerable influence over the major carbon credit trading firms that currently exist, including the Chicago Climate Exchange.

Strong, the silent partner, is a man whose name often draws a blank on the Washington cocktail circuit.  Even though a former Secretary General of the 1992 United Nations Conference on Environment and Development (the much hyped Rio Earth Summit) and Under-Secretary General of the United Nations in the days of an Oil-for-Food beleaguered Kofi Annan, the Canadian born Strong is little known in the United States.  That’s because he spends most of his time in China where he he has been working to make the communist country the world’s next superpower.  The nondescript Strong, nonetheless is the big cheese in the underworld of climate change and is one of the main architects of the failing Kyoto Protocol.

If we follow the time line on where Obama was during the funding of the Chicago Climate Exchange, he was still a lecturer at the University of Chicago Law School teaching constitutional law, with his law license becoming inactive a year later in 2002. It may be interesting to note that the Chicago Climate Exchange in spite of its hype, is a veritable rat’s nest of cronyism. The largest shareholder in the Exchange is Goldman Sachs.  Chicago Mayor Richard M. Daley is its honorary chairman, The Joyce Foundation, which funded the Exchange also funded money for John Ayers’ Chicago School Initiatives.  John is the brother of William Ayers.

The same Chicago Climate Exchange promoting public rip-off was funded by Obama before he was POTUS. Even as man-made global warming is being exposed as a money-generating hoax, Obama is working feverishly to push the controversial cap-and-trade carbon reduction scheme through Congress.

Obama was never the character he created for himself in the fairy-tale version in “Dreams of My Father”.  He’s the agent of Change and Hope for cohorts making money down at the Chicago Climate Exchange.  The Barbarians are pushing at the gate of the Global Warming fraud, and to borrow a line from children playing Hide and Seek, Here they come, ready or not! See post here. See list of CCX corporate members here.
Board members have included Maurice Strong, Mayor Richard Daley, Valerie Jarrett, Ed Begley Jr..