If the brand of Capitalism that you choose to play is Political Capitalism you better know the game and the rules.
It was only last September that we posted "Carbon Trading: JPMorgan to buy EcoSecurities for $204 million (JPM; ECO.L)"
Today Point Carbon reports:
Ecosecurities to shutter US officeAnd from Reuters:Ecosecurities will close its US operations following a strategic review with JP Morgan....
Investors are becoming less convinced that a global carbon market, estimated to be worth about $2 trillion by the end of the decade, can be established as uncertainty over global climate policy persists.
The absence of legally binding global climate deal and a federal emissions trading scheme in the United States are standing in the way of the market in global emissions trading growing to achieve yearly turnover of $2 trillion by 2020.
"There will only be a $2 trillion market if the U.S. gets on board," Trevor Sikorski, head of carbon research at Barclays Capital, told Reuters at a carbon conference in Amsterdam.
The market for carbon credits was worth around $136 billion last year, according to analysts Point Carbon.
Highlighting these fading hopes, a Point Carbon survey on Wednesday showed 61 percent of respondents said they expected a U.S. emissions trading scheme by 2015, down from 90 percent last year. They also predict a lower global carbon price of 31 euros ($41.92) a tonne in 2020, compared to 35 euros.......Participants at a carbon conference in Amsterdam were equally downbeat, as carbon prices in the EU ETS are weak and range-bound and expectations are low for a climate pact being agreed this year at the talks in the Mexican city of Canucun.
European Union carbon prices are roughly half what they were in mid-2008, trading around 13.45 euros ($18.35) a tonne....MORE
The first recipient (April, 2007) of the prestigious "Climateer: Our Hero" award, Sen. Simon Cameron, Republican and Democrat of Pennsylvania:
"The honest politician is one who when he is bought,
will stay bought."