Oh, Yay, We're Saved. Big Oil Companies See Big Profits In Carbon Credits Scam, Uh, Trading
LONDON—Big energy trading houses, long focused on deep, volatile markets such as oil and natural gas, are now bulking up their carbon-trading operations as governments around the world push to expand the market for trading carbon emissions.
Two of the world’s biggest oil companies, Royal Dutch Shell PLC and BP PLC, already have significant carbon-emissions trading arms, thanks to a relatively well-developed carbon market in Europe. Big carbon emitters, such as steel producers, receive emission allowances, and can buy more to stay under European emissions guidelines.
EDIT (paywall)
https://www.wsj.com/articles/energy-traders-see-big-money-in-carbon-emissions-markets-11630488780?mod=hp_lead_pos4
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I was so afraid for them, I just don't know how they make any money with the price of gasoline so damn low.
