Dear Kevin

You might want to read this too. It is relevant.

http://www.bloomberg.com/news/2013-01-21/eu-carbon-permits-worthless-without
-change-of-rules-ubs-says.html

New record low for EU carbon dioxide offsets.

If people can get funding for stoves, no problem. If they can get it on the
basis of PM or CO or CO2 reductions, no problem as long as the contract is
upheld. Just be careful that you are not doing something that expects the
future to be like the past. 

In Poland with the revisionists in full command they used to say, "The
future we know, the past is unpredictable." With carbon trading neither is
known with precision.

Regards
Crispin



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