US carbon traders fear pink slips

  •   The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Reuters
March 12, 2010

Wall Street was supposed to become the capital of a global carbon trading market worth a trillion dollars a year but now many who thought green trading desks would be the next big thing are fearing the pink slip.

  • A d v e r t i s e m e n t
  • {openx:49}

US banks had looked forward to a huge “cap-and-trade market” a system where companies would buy and sell the right to emit gases blamed for warming the planet. Many hired carbon traders, picked up assets, and trained members of energy desks to deal in emissions markets.

But prospects for a broad US carbon market have dimmed. US Senator Lindsey Graham, a Republican working on a compromise climate bill, declared economy-wide cap-and-trade “dead” this month.

At least one bank with carbon trade assets has already been hit. EcoSecurities, a clean energy project developer and carbon trader, bought by JP Morgan Chase last year has closed its New York-based US office leading to a loss of up to 20 jobs.

READ FULL ARTICLE

This article was posted: Friday, March 12, 2010 at 3:44 pm







Infowars.com Videos:

Comment on this article

Comments are closed.


Watch the News

FEATURED VIDEOS
Harry Reid Blatantly Lies To America See the rest on the Alex Jones YouTube channel.

Smart Guns Endanger Children See the rest on the Alex Jones YouTube channel.

© 2013 Infowars.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.