| Prices Tank for Carbon Credit Program |
| 7/29/2009 |
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| Farmers enrolled in a program that rewards them for storing greenhouse gasses have not gotten payments this year due to a depressed carbon credits market. The National Farmers Union says carbon dioxide credits are fetching about 60 cents a metric ton, down from a high of about $7 a year ago. National Farmers Union President Roger Johnson says a sluggish worldwide economy and the uncertainty of climate legislation has hurt carbon credit values. Farmers, ranchers and landowners can participate in the program by using no-till farming practices or growing grasses and trees to limit the release of carbon dioxide. The program pools carbon credits for sale on the Chicago Climate Exchange, a private agency that trades greenhouse gases and other pollutants just as other exchanges trade such commodities as crops and livestock. |
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