I just gave an extensive interview today to the Wall Street Journal on "Carbon Trading." There is going to be a tremendous pick up in interest and activity in these markets as the Waxman/Markey bill makes it way through the House. This is the new legislation that will drive greenhouse gas markets in the US. The Obama Administration supports the bill although it is trying to be impartial. But the Senate seems unable to get its act together now. And the US EPA under Lisa Jackson is making all the right noises on "endangerment" and regulation of CO2 through administrative and regulatory mechanisms.
Carbon Trading is Becoming Mainstream
It seems likely that carbon regulation will come to America by the fourth quarter of this year. If that occurs, then President Obama will be ready to set the table at the Council of the Parties (COP) 15th meeting in Copenhagen. The US carbon footprint is 6 billion metric tonnes per year and dwarfs the EU. If you include the Canadian carbon footprint of 1.3 billion tonnes, then we are looking at a substantial North American market rising including Mexico.
My next "Introduction to Carbon Trading & Finance" seminar takes place on June 2nd a the NYU Torch Club. This course has been taken by over 850 professionals and will get you started on learning about this new area of market development. If interested go to www.pgsnergy.com to register or call 212-222-3775 or send an email to [email protected]