Reuters: The uncertainty over prospects for the European Union emissions trading scheme is so great that it justifies current low carbon permit prices - which may even be a little high by one method of estimating underlying value.
The scheme faces a range of possible outcomes in this decade. These range from a cancellation of up to 1,900 million or so surplus EU allowances (EUAs) following on from reforms now being planned and which would greatly boost confidence, to total scrapping of the market, which...