(Bloomberg) -- George W. Bush, who's lately warmed
to the notion that nations must cut greenhouse gases, has stopped
short of endorsing mandatory caps. That hasn't prevented the
world's biggest banks from plotting ways to eventually rake in
winnings off emission limits in the U.S.
The banks are rushing to hire traders for the U.S., betting
it will enact caps, combined with emissions permit trading, after
Bush leaves office in January 2009. In the European Union,
emissions trading tripled in value to $24 billion in 2006 from a
year earlier, when the market started, World Bank figures show.
``The growth is phenomenal,'' says Seb Walhain, who runs the
world's biggest emissions trading desk at Fortis, Belgium's No. 1
bank.
Read more at Bloomberg Energy News
to the notion that nations must cut greenhouse gases, has stopped
short of endorsing mandatory caps. That hasn't prevented the
world's biggest banks from plotting ways to eventually rake in
winnings off emission limits in the U.S.
The banks are rushing to hire traders for the U.S., betting
it will enact caps, combined with emissions permit trading, after
Bush leaves office in January 2009. In the European Union,
emissions trading tripled in value to $24 billion in 2006 from a
year earlier, when the market started, World Bank figures show.
``The growth is phenomenal,'' says Seb Walhain, who runs the
world's biggest emissions trading desk at Fortis, Belgium's No. 1
bank.
Read more at Bloomberg Energy News
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