Shell pushes for unfettered carbon trading markets

[phantom power]

Royal Dutch Shell Plc is calling for the removal of any restrictions on carbon credit trading and asking for derivative contracts to be allowed under cap-and-trade programs.

“You have to allow a secondary market to develop,” David Hone, Shell's climate change adviser, told reporters at an energy conference in Singapore today. “You don't want to have a carbon market that's restricted from doing what other commodity markets are doing.”

Legislators in the U.S. plan to impose restrictions on trading of carbon credits under a proposed cap-and-trade program, on concern that speculators will drive up carbon prices and costs for consumers.

...

President Barack Obama's administration proposed regulatory changes in August, including imposing higher capital and margin requirements on derivatives markets and requiring certain contracts be processed through clearinghouses. The Commodity Futures Trading Commission has moved to limit commodity speculation amid concerns it's distorting prices.

http://www.chron.com/disp/story.mpl/business/energy/6722671.html

[leveymg]

1. The point of cap & trade is not to provide a revenue stream. It's only to maximize benefits to

firms that reduce their carbon emissions, providing an incentive to others to do the same.

They'll turn this, too, into another Ponzi Scheme.

[Nederland]

2. Derivatives are evil

There is a reason Warren Buffet called them "financial weapons of mass destruction".

[phantom power]

3. we shall fight on the beaches, we shall fight on the landing grounds...

[Dead_Parrot]

5. Kill it! Kill it with fire! nt

[excess_3]

4. same old carbon-offset BS