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Earlier in the summer we ran the chart as a "commodity" that would likely go up into the December Paris Confab. The report was done as a spoof.
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The rally set a high of 8.70 going into "Paris".
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The plunge to 7.90 suggests the market had fully discounted a huge increase in demand for a phoney product.
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Otherwise, "carbon emissions" trades with real commodities. The big highs were with the cyclical peaks for real commodities in 2008 and in 2011.
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The decline could run for years.
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Our price target for the Carbon Emissions contract is 400 ppm.
