"Commissioner Bart Chilton, head of the energy and environmental markets advisory committee of the Commodity Futures Trading Commission (CFTC), has predicted that within five years a carbon market would dwarf any of the markets his agency currently regulates: 'I can see carbon trading being a $2 trillion market.' 'The largest commodity market in the world.' He ought to know.
It promises to be larger than the markets for coal, oil, gold, wheat, copper or uranium. Just soak in that thought for a moment. Larger than oil.
Richard L. Sandor, chairman and chief executive officer of Climate Exchange Plc, agrees and predicts trades eventually will total $10 trillion a year.' That's 10 thousand billion dollars."
Friday, March 5, 2010
The money trail: