A professor of mine once said, "If you want to know what's going on, follow the money". Well, here you go:
QUOTE
Mon Mar 31, 6:11 PM ET
Merrill Lynch has rolled out a set of indexes anticipating the growth of carbon emissions markets.
Francisco Blanch, Merrill's head of global commodities research, says the indexes track the value of carbon emissions credits. They are designed as investment vehicles, and the firm hopes to see them used in an ETF or exchange traded note. In the European Union, companies are given carbon credits that can be traded in a way similar to futures and options. Buying more allows for more carbon emissions, while selling off credits means a company must emit less.
Other countries have also considered cap-and-trade markets. Merrill isn't the first to take a stab at trading on carbon credits. XShares Advisors registered for an ETF called AirShares that also tracks carbon credits traded in Europe.
http://news.yahoo.com/s/ibd/20080331/bs_ibd_ibd/20080331etfThere are also indices emerging for trading other "green" values. Enron was one of the first, if not the first, company to envision creating the carbon trading market before Enron collapsed.
Questions for Debate:
Does this event make you more suspicious about whether man-made greenhouse emissions cause global warming or any meaningful climate change?
Does this lend credence to the argument that man-made global warming is a boondoggle, funded by large companies who stand to make billions in carbon trading, and sold to us hook, line and sinker?