Tom Nolan + 2,441 TN June 16, 2021 (Be sure to watch the 2 minute VIDEO embedded in the article.) (Tom Nolan's note: The World Economic Forum, Bill Gates, and the rest of the Elite Davos crowd are going to make bank on this Carbon Trading scam; and as a side benefit they all gain more control over the lives of the average person who was hood-winked by their propaganda.) Carbon Trade Could Be 10 Times Bigger Than Global Crude Oil Market By Tsvetana Paraskova - Jun 16, 2021, 2:00 PM CDT https://oilprice.com/Energy/Crude-Oil/Carbon-Trade-Could-Be-10-Times-Bigger-Than-Global-Crude-Oil-Market.html The growing market for paying for carbon emissions could become a larger market than the one for crude oil, according to the head of carbon trading at Trafigura, one of the world’s largest commodity traders. The carbon market has the potential to become 10 times larger than the global crude oil market, Hannah Hauman, Global Head of Carbon Trading at Trafigura, said at FT Commodities Global Summit on Wednesday, as carried by Bloomberg. The biggest commodity traders are looking at growing opportunities in carbon trading and trading in energy transition metals. Amid booming demand for key metals in the energy transition, commodity traders, and some hedge funds are racing to hire metals traders to capitalize on the demand for critical minerals, Reuters reported earlier this month, quoting sources with direct knowledge of the hiring spree. Trafigura, for example, became last year the first commodity trading company to establish a low-carbon aluminum trading desk and established a non-ferrous metals business development unit. During 2020, Trafigura’s non-ferrous Metals and Minerals department recorded its most successful performance, the trader said in its annual report. Last year was also the first full year after restructuring the department into four books: copper, zinc and lead, nickel and cobalt, and aluminum. [VIDEO] Muriel Schwab, group chief financial officer at Gunvor, told the FT Commodities Global Summit today that the trader had “shifted trading towards transitional commodities,” Financial Times Energy Editor David Sheppard reports. Along with commodities crucial to the energy transition, the biggest traders also look to capitalize on the rising carbon prices in a growing market for carbon emissions trading as more and more governments pledge net-zero emission goals. The biggest carbon market in the world, the EU carbon market, saw record-high carbon prices in early May—prices exceeded US$60.50 (50 euro) per ton, surging by more than 50 percent so far this year. Analysts believe prices will rise more with the EU issuing increasingly strict environmental policies and studying putting a price on carbon for road transportation and aviation fuels. Lawson Steele, joint head of carbon and utilities research at Berenberg, told CNBC last month that his target for the EU carbon price at the end of this year is double the current levels at US$133 (110 euro) per month. By Tsvetana Paraskova for Oilprice.com Quote Share this post Link to post Share on other sites
Tom Nolan + 2,441 TN June 16, 2021 Latest articles from Tsvetana High Oil Prices Set Supermajors Up For A Promising Earnings Season Published 16 June 2021 | viewed 668 times The world’s largest oil companies are set to report next month another set of strong quarterly earnings amid significantly higher oil prices and global oil… Carbon Trade Could Be 10 Times Bigger Than Global Crude Oil Market Published 16 June 2021 | viewed 731 times The growing market for paying for carbon emissions could become a larger market than the one for crude oil, according to the head of carbon… Banks Want Climate Goals For Lending Money To Commodity Traders Published 16 June 2021 | viewed 800 times Environmental, Social, and Governance (ESG) criteria have become top of the agenda for bank loans to commodity traders, as lenders increasingly demand to see climate… $100 Oil Predictions Soar As Analysts Warn Of Supply Crisis Published 16 June 2021 | viewed 4,923 times “Incredible demand,” inflation, and shareholder pressure on oil supermajors to drastically cut emissions could lead to an oil crisis within three years, with very high… Bullish Fundamentals Drive Oil Prices Higher Published 16 June 2021 | viewed 1,600 times Oil prices have rallied in recent days, as global demand continues to recover while OPEC+ keeps a tight rein on supply and speculators buy the… Japan Aims To Make Hydrogen Power Mainstream Published 15 June 2021 | viewed 4,275 times Japan, a country heavily dependent on fossil fuel imports, is betting big on hydrogen in industry, power generation, vehicles, and shipping as it looks to… OPEC+ Alliance Has Been Key In Oil Market Recovery Published 15 June 2021 | viewed 1,430 times The OPEC+ alliance has taken decisive actions to help reduce oil market volatility, OPEC Secretary-General Mohammad Barkindo said on Tuesday at the opening of the… Depleted Gas Stocks Force Europe To Use More Coal Published 15 June 2021 | viewed 5,206 times With power demand recovering from the pandemic, European utilities are using more coal as natural gas inventories are unusually low for this time of the… $100 Oil Is Now A Distinct Possibility Published 15 June 2021 | viewed 8,942 times Although oil may not be headed to a new supercycle, prices still have room to rise from current levels because of a strong demand rebound… Saudi Arabia To Boost Oil Production To 10 Million Bpd As Prices Rise Published 15 June 2021 | viewed 8,353 times Saudi Arabia is expected to hike its crude oil production to 10 million barrels per day (bpd) by the end of 2021, up by 1.5… BP Plans To Spin Off Its Iraqi Oil Assets Into Separate Company Published 14 June 2021 | viewed 4,149 times BP is considering spinning off its oil assets in Iraq, including its holding in the world’s third-largest oilfield, into a company separate from the supermajor,… The Biggest Threat To Europe’s Battery Boom Published 14 June 2021 | viewed 2,578 times Europe has dozens of battery factories worth billions of dollars of investments that are planned to go online by the end of this decade. But… U.S. Oil Prices Hit 32-Month High On Rising Global Demand Published 14 June 2021 | viewed 13,327 times Oil prices rose early on Monday, with the U.S. benchmark hitting a 32-month high and Brent rising above $73 per barrel as the market is… Leak Reported At Chinese Nuclear Power Plant Published 14 June 2021 | viewed 6,112 times A nuclear power plant in southeastern China could turn into an “imminent radiological threat,” the part owner of the facility, a French company, has told… Energy Transition Forces LNG Industry To Cut Emissions Published 13 June 2021 | viewed 2,770 times In just a few years, the image of natural gas markedly shifted from the bridge fuel of the energy transition to just another fossil fuel… Quote Share this post Link to post Share on other sites
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