Looking at the last few posts I started laughing.
Cap-and-trade? Nyet
Carbon tax? Nyet
Biofuels? Nyet
Nuclear? Nyet
In the words of Viktor Chernomyrdin, former head of Gazprom: "We meant to do better, but it came out as always"
Speaking of Gazprom, Canada could buy their way out of their Kyoto commitment, willingly entered into by the Liberal government (not pejorative, note big L) by availing themselves of Gazprom's J.V. with Dresdener Kleinwort; it would cost Canada about $6 Billion per year.
From the NYT: "At current prices, the total value for Russian carbon credits could be between 30 billion and 45 billion euros, or about $40 billion to $60 billion. But if negotiations to extend the Kyoto Protocols collapse, carbon credits could be worth nothing." (HT: WSJ EnergyRoundup). Easy come, easy gone.
It's a slow day in the markets, I am willing to entertain prop. bets on when the Canadian dollar trades at par. Payment in Maple Leafs. Not loonies.
