Paving the way for Another Obama Executive Order via the EPA? CFTC approves Green Exchange

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News on July 24, 2010

CFTC approves Green Exchange

By Sarah N. Lynch

WASHINGTON (MarketWatch) — Green Exchange got its approval from federal futures regulators this week to launch a trading platform that will list contracts tied to credits and allowances for greenhouses gases.

The Commodity Futures Trading Commission said Friday it had approved the exchange’s application Thursday. The announcement of its approval comes just one day after U.S. Senate Democrats decided to table a climate-change bill. That bill would have helped spur a much larger derivatives market to help companies offset their carbon emissions.

Green Exchange was introduced in 2007 under the New York Mercantile Exchange and a group of banks and brokerages. Its products have been listed at Nymex, which is now owned by CME Group (CME 283.86, +0.19, +0.07%) . The CFTC said those products will now be listed on Green Exchange, which will become a stand-alone entity.

A spokesman for Green Exchange couldn’t be immediately reached for comment.

“We think the Green Exchange has all the right elements to really compete in the marketplace, and achieving the milestone of this approval one of those elements,” said Evan Ard, managing director of Evolution Markets, a founding member of the venture. “But there’s still a lot of work to be done to effectively compete in the marketplace.”

The CFTC’s approval of the Green Exchange now sets the stage for competition between CME and its major rival IntercontinentalExchange Inc. (ICE 107.20, -0.80, -0.74%) , which this year acquired the Climate Exchange PLC (CLE.LN) in a $597 million deal.

ICE’s acquisition will make it a dominant force in Europe’s estimated EUR100 billion carbon market. The U.S. market is still quite small, although it has great potential to grow. Point Carbon, a consulting firm, expects the global carbon market to grow $170 billion this year.

Both CME and ICE are targeting European and U.S. markets with their ventures. But Point Carbon estimated in March that 63% of the trading in the U.S. carbon market was done off-exchange.

Without a climate-change bill, it could be challenging for both exchanges in the U.S. to build emissions-trading businesses.

Link

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Obama has already circumvented Congress by utilizing the EPA to claim “dangerous gasses”.

So Obama may sign an executive order:

Will Obama…….. proclaiming as the law of the Land…. the the U.S. Carbon market is a necessary thing to improve the quality of air? (facetious remark)

Does our own CONGRESS realize that Obama basically is classifying them a USELESS?

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Don’t Believe it?

LOOK AT THIS CHART at following link:

http://americansforprosperity.org/files/Kerpen_ObamaAgenda_1040610.pdf

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READ THIS:

The Chicago Climate Exchange (CCX),Obama’s Connection and WHY Goldman Sachs is Willing to Take the Heat

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The Communist Party USA and the UNIONS say this:

Senate leaders are not expected to take up the bill again this year.

Instead, the Obama administration will move ahead on using its regulatory powers to curb emissions under the Clean Air Act.

For example, the Environmental Protection Agency has said it will begin to issue curbs on power plants and factories next January.

Link

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America:  Had enough of the Obama/Progressive policies and agenda?

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NOT RACIST.

NOT VIOLENT.

JUST NO LONGER SILENT.

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