The EU carbon price has slumped to a new low, making Australia’s $23 a tonne carbon tax in mid-2012 nearly three times the price on the European market:
European Union and U.N.-backed carbon prices plunged to new record lows on Wednesday, beset by worries about Europe’s economic turmoil and uncertainty about a future global climate pact.
Carbon prices have shed more than 60 percent since June, as Europe’s worsening debt crisis dented demand at a time when the EU emissions trading scheme, the world’s biggest carbon market, is oversupplied with hundreds of millions of permits.
Benchmark EU carbon permits tumbled more than 8 percent on Wednesday to a fresh record low of 6.43 euros ($8.41)a tonne. They were at 6.51 euros at 1305 GMT.
Front-year U.N.-issued carbon credits, so-called certified emission reductions, fell 11 percent to a new record low of 3.92 euros a tonne. (source)
And this won’t be the end. Carbon prices will end up like the Chicago exchange, worth a few cents, whilst Australia commits economic suicide from next July with a price of $23.
Australian Climate Madness 
if they fall the price of their Carbon Scam – how will they get away with their Tax reforms that rip the livelihood from middle income families.
How much would you pay for a slice of burned toast? Lots of carbon!
will Tony Abbott get rid of it when Gillard gets the flick or will there conveniently be a Coup d’état and a carbon TAX friendly leader of the opposition be installed ie. Malcom (Bankster) Turnbull ???
if the Liberals got in and did not repeal the tax as promised then I’m pretty sure that Parliament house would be stormed like it was early in the Howard era when budget cuts were announced.
Is it possible to buy those $8 credits and sell them at our $23 price as soon as it floats???
$23 PLUS GST!!!!
ive just farted, does that make me rich or poor??……i dont get this shit!
Gav – not until 2015 when the ETS comes in. In saying this, note that Tony Abbot has promised to repeal the Carbon Tax ASAP (in 2013), but the Greens will still have the balance of power, so he may have to do a double dissolution. If so, and he wins again, then the Tax will be gone way way before the 2015 ETS date, effectively meaning you will lose $8 for every permit you buy. Note also that Europe WILL collapse, it’s like a headless man on life-support, so I wouldn’t waste even $8 on permits because they will soon be worth zero (like the $0.05 permits on Chicago Carbon exchange – which has shut down).
HAHAHA!
You guys over there lost your collective minds? Don’t mean to be rude but how do you compete with everyone else or are your leaders as stupid as mine ;).
Ronnie the only thing our leaders excell in, is stupidity.
@Ronnie Gaston “We” haven’t lost anything, our “leader” is a Fabian Socialist and our country is completely and utterly controlled by global interests.
I would say they are all welcome to return to Britain, but we’re no better off than they are.
We’d love to return Juliar Gillard to Wales … I’m sure that we can raise the stamps for posting her back.
For a British Home County that can turn out such magnificent rugby players, it sure short-changed us with Gillard.
The only other world carbon (dioxide) trading market, apart from the EU, New Zealand, has seen its carbon price fall to record lows of $9.90 per tonne.
It seems we’re not catching up to the rest of the world when it comes to climate change … we’re setting the benchmark for stupidity!
If the greens had their way our starting price would be $50+. Morons.
On the lighter note added here is bit of YOUTUBE entertainment for all of you good folks!
Merry Christmas and Very Happy & Carbonaceous New Year!
I’m not an economist but I am a fairly intelligent person (I like to think so anyway) and there is a whole leap of thought that has just leapt straight over me regarding carbon trading. Just what the hell is being bought and sold? Presumably not lumpwood barbecue charcoal, right? It’s all artificial nonsense to deal with a made up problem but with all too real consequences for whole economies.
Would’nt matter if EU carbon price was worth nothing . Gillard , Combet , Brown are all now beyond reason when it comes to this carbon trading nonsense.They really do believe that an ETS will save the planet from catostrophic global warming.They live in a world of their own with their own socialist green logic.They will listen to nothing but voter backlash and electoral anialation. Then Gillard’s replacment will predictably bring out the old “We lost touch” line. Pathetic!
Patience is a virtue. A perfect storm is looming.
For the USELESS, lying, good for nothing ALP that’s for sure…and I personally am looking forward patiently to seeing these arrogant pricks made into nothing more than embarrassing history.
I agree. Let’s just let Labor continue to screw Australia up (not too much) and then we will have a NSW 2011 election like defeat for Labor in 2013.
US … fallen from $12 to 5 cents, now zero
Ooops .. EU price has just crashed to 6.41
But now EU politicians are calling for direct intervention in the carbon market. Let’s make the market even more artificial, shall we! What a joke.
http://www.reuters.com/article/2011/12/18/us-eu-carbon-idUSTRE7BH0DZ20111218
Really if you read between the lines , unless people basically start generating their own electricity through solar etc and growing own vegies etc, the current trajectory reeks of destruction of basic soundness of economy. I predict there will be rampant inflation once the carbon “death tax” kicks in. We need to start becoming self sufficient NOW. The price of things will distort very quickly, such that it will slowly strangle and lock down the middle class, while draining its bank accounts while we are pinned to the table by a govt hand around our necks.
Our country is being strip mined by the UN and the compliant globalist funded communist leadership of Herr Gullard. How many peole realise that 10% or thereabouts of the carbon tax is being pumped off shore to prop up the UN? Anyone? Read the detail of the CT legislation.
I read somewhere a lot of govt buildings windows and doors are being reinforced – for what? Rioting? I wonder why……..?
They know whats coming – they are engineering it. We now have militarized police forces, looming state oppression and creating of great levels of civil unrest. Its a lockdown in many ways – get self sufficient as mucha s you can – at least you may survive, but many wont because they beleieve th egovt will save them.
We will also have another world war soon – debt levels are so high there is only one way to break the deadlock.
Look at the conditions leading up to WWII and now – they are almost identical.
Plan ahead – buy solar panels & batteries and ibverters, store food and get ready.
You say buy Solar Panels yet you are against this ‘death tax’. I’m against the tax as well and I certainly won’t be buying solar panels.