• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 23 hours Could Venezuela become a net oil importer?
  • 17 mins Oil prices going Up? NO!
  • 2 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 1 day Tesla Closing a Dozen Solar Facilities in Nine States
  • 2 mins Could oil demand collapse rapidly? Yup, sure could.
  • 23 hours Gazprom Exports to EU Hit Record
  • 1 day EU Leaders Set To Prolong Russia Sanctions Again
  • 1 day Why is permian oil "locked in" when refineries abound?
  • 23 hours Oil Buyers Club
  • 17 hours Oil prices going down
  • 6 mins Renewables to generate 50% of worldwide electricity by 2050 (BNEF report)
  • 1 day EVs Could Help Coal Demand
  • 1 day China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 1 day Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 15 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 10 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
Russia Pushes Ahead With Controversial Nord Stream 2

Russia Pushes Ahead With Controversial Nord Stream 2

Russia’s controversial Nord Stream 2…

OPEC Confident Global Oil Demand Will Stay Strong

OPEC Confident Global Oil Demand Will Stay Strong

The OPEC technical panel has…

Global Carbon Trading System on the Verge of Collapse

The Clean Development Mechanism (CDM) is the only global carbon trading system which is designed to create funding to give poor countries access to new energy technologies; and it is on the verge of collapse.

The UN’s system has raised billions of dollars over the past seven years to develop renewable energy projects, such as wind farms and solar panels, in developing countries. Its survival is in jeopardy due to the failure of governments to commit to it for the future.

A UN panel reported yesterday that raising investment to help developing countries move away from carbon intensive energy sources would be virtually impossible if the CDM were to collapse. They urged governments to reassure investors by promising to support the system in the future, increasing their current emission targets, and even buying carbon credits themselves.

Joan MacNaughton, the vice chair of the UN panel, told the Guardian that, “the carbon market is profoundly weak, and the CDM has essentially collapsed. It's extremely worrying that governments are not taking this seriously.”

Governments have a last chance to pledge themselves to the system when they meet in Qatar in December to discuss climate change.

By. James Burgess of Oilprice.com



Join the discussion | Back to homepage

Leave a comment
  • Hans Nieder on September 14 2012 said:
    Hear, is another option,

    https://www.theice.com/ccx.jhtml
  • Hans Nieder on September 12 2012 said:
    Thank you for the very good new, Mr Burgess...

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News