Senate May Ban Carbon Derivatives Trading: Kerry

Law360, New York (July 30, 2009, 4:45 PM EDT) -- Sen. John Kerry, D-Mass. — who is helping to draw up climate change legislation in the U.S. Senate — said Wednesday that no carbon derivatives trading would be allowed, although he later backtracked slightly from that comment.

“There will be no derivatives; there will be no credit swaps,” Kerry said during a speech at the National Press Club. “This will be a completely open, transparent market.”

He would not go into the details, but said the Senate climate change bill would contain some very strict market...
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