For those of you new to the carbon trading market subjet, MSNBC has a nice Q&A overview that you should take a look at.  Read more

Businessweek has an article out describing a well known glitch in the EU Emissions Trading Scheme (EU ETS) that basically gave the European companies free valuable assets (carbon allowances) that they are now selling for cold hard cash.

Dont get your hopes up though US.  Obama wont make the same mistake the Europeans made.

“They are using [carbon] allowances to raise cash because it’s so hard to get capital from banks,” says one market analyst, who declined to be named. “The lower demand for manufactured products means companies will have no trouble meeting their own offsetting obligations, so can sell excess allowances for a tidy profit.”