In the Market for Pollution: Selling the Blue Sky
Posted September 9, 2010
By editor
From rss.sciam.com:
That’s because the financial world is full of innovation these days—even in the wake of the Great Recession—which primarily means inventing new instruments to trade. One can still trade the mortgage-backed securities that helped derail the global economy or corporate debt repackaged as bonds. Enron helped pioneer the trade in "physical" electricity, actual power available for purchase on the grid and only physical in the sense that the infrastructure to transport it is more visible than an odorless, colorless greenhouse gas. Both are now lucrative markets, but certainly electricity, despite …
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