Theeusphaseiicapismorethan6below

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Unformatted text preview:   •  •  Phase
I:
Prices
 •  
In
2006,
prices
crashed
from
€30/t
to
€10/t
 when
several
countries
revealed
that
more
 allowances
were
allocated
than
needed.

 •  The
price
con7nued
to
fall
to
€4/t
in
January
 2007
and
finally
trading
at
€0.03/t
at
the
end
 of
2007.

 •  One
of
the
reasons
for
such
a
low
price
was
 that
credits
from
phase
I
could
not
be
banked
 to
Phase
II.
 More
Recent
Price
History
 Phase
I:
The
“Non‐C...
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This note was uploaded on 01/12/2010 for the course ENVS 141 taught by Professor Richard during the Fall '09 term at University of California, Santa Cruz.

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