Regular readers know that I am a fan of low-I.Q. analysis,
"I don't know if climate change is caused by burning coal or sun flares or what," said the Moscow-based carbon cowboy. "And I don't really give a shit. Russia is the most energy inefficient country around, and carbon is the most volatile market ever. There's a lot of opportunity to make money."
here's an example that paid off.
(working backward from most recent to oldest)
Emission Permits Rise After Gazprom Threatens to Cut Gas Supply
European Union emission permits rose near their highest in eight days as natural gas advanced because OAO Gazprom said it may cut supplies to Ukraine on Feb. 11.
December-delivery carbon dioxide permits rose 47 cents, or 2.4 percent, to 20.44 euros ($29.63) a metric ton on the European Climate Exchange in London. They were earlier as high as 20.50 euros, having dropped 9 percent so far this year.
...Russia and Ukraine are expected to corner the ERU market through 2012 with a potential stockpile of some 400 million tons, more than 80 percent of the estimated total supply, Core Carbon Group's chief climate change officer Morten Prehn Sorensen told Reuters.
At an average ERU price of around 10 euros ($14.62) a ton, this could amount to revenues of some 4 billion euros ($5.85 billion).
Fixing Leaky Gas Pipes Seen as Next CO2 Grab
...Again, Got that? Russia is in the CDM racket, in fact it is set to be one of the largest sellers of the paper. So by manipulating gas deliveries to Europe, they can move prices in the carbon market.Interesting, no?
Russia not Bound by Solemn Kyoto Promise?
Who'da thunk it?...
Belarus Pays Gazprom Bill For Russian Natural Gas In Full
If I were the EU I would be very concerned....
A Future Natural Gas Cartel
Gazprom bid to cut off China gas
And the story that caught my eye a year ago January:
Gazprom, Dresdner move to cash in on carbon trade
....Gazprombank and Dresdner Kleinwort plan to invest in projects generating carbon credits under the Kyoto Protocol, in a Russian and east European market worth up to 5 billion euros ($6.5 billion) through to 2012.
But Gazprombank, owned by the world's largest gas company Gazprom (GAZP.MM) admitted that no projects could actually be implemented until Russia passed laws to govern emissions trading -- something it has repeatedly promised but failed to deliver.
"There is huge potential in Russia for realising opportunities under the Kyoto Protocol," Gazprombank Deputy Chief Executive Alexei Obozintsev said in the statement.
Russian companies could earn carbon credits -- which they can then sell to western companies facing emissions targets -- for example by improving their energy efficiency or by plugging leaks in natural gas pipelines, cutting emissions of carbon dioxide and methane respectively, both greenhouse gases.
Well readers you decide, has Russia figured out how to stick it to the Europeans in both the gas biz and the carbon biz, simultaneously? Da/Nyet? Your vote counts.
Alright, the nyet's have it!
Europe's playing pattycake. With a stone cold killer.
On the other hand Russia's nuclear program intrigues me:
Miss Nuclear: Yelena Kamenskaya (fourth from left) poses with contestants – all nuclear employees or students – in the Miss-Atom 2007 beauty contest.
Here's the Nuclear.ru website.
(for all things Russian nuclear)