The Center's Carbon Mercantile Exchange (CMX) Will Stay Open Indefinitely
The House passed a climate bill last year that would set a national 2020 emissions reduction target on greenhouse gas emissions and outlined a national emissions trading scheme. But Senate Democrats abandoned the cap-and-trade method of cutting emissions. Big Republican gains in the midterm elections further diminished the prospects of further climate legislation passing Congress in the near term. The CCX was envisioned as the main clearinghouse for what would eventually have been a $10 trillion non-voluntary market had cap-and-trade legislation passed the Senate as it did the House.
(FOXNews, 11/8/2010, Washington Examiner, 11/8/2010, National Geographic, 11/3/2010)