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These iron ore producers may get shafted: Goldman

Posted on 20 April 2015 by VRS  |  Email |Print

Iron ore’s price plunge is likely to start claiming corporate casualties among the industry’s smaller players, Goldman Sachs said. “Tier-one producers have no alternative but to reduce unit costs and to exploit their asset base more efficiently; their production volumes are not at risk from a lower iron ore price,” Goldman said in a note last week. “However, the rest of the industry is now facing an existential challenge.”
It expects the tier-one producers — Vale, Rio Tinto and BHP Billiton assets in Australia and Brazil — will continue to expand. “We lump every other producer into the tier-two category,” Goldman said, estimating up to 50 percent of the tier-two production capacity is at risk through 2019. Australia’s Atlas Iron has already announced it suspended all mining operations, it noted……………………………………Full Article: Source

Who Will Benefit From Digital Currency?

Posted on 27 November 2014 by VRS  |  Email |Print

One of the questions that’s still an open question is whether, if all your friends had Bitcoin, if you would find it useful to use Bitcoin too. Right now, people don’t use Bitcoin to split checks, because for every person who has Bitcoin, most of their friends don’t. But if you had a whole community of people who all had Bitcoin, would they find this to be more convenient than using cash or other options?
By seeding an entire community with Bitcoin, we can test the hypothesis that it’s lack of community adoption that’s keeping people from using Bitcoin. Another hypothesis is that maybe it just doesn’t provide that much value above cash or other alternatives…………………………………..Full Article: Source

Global currency wars rage, but Turkey remains steadfast

Posted on 25 November 2014 by VRS  |  Email |Print

Currency wars, with their dangerous consequence, global deflation, are raging across the globe. The term “currency war,” coined by the Brazilian Finance Minister in 2010, refers to competitive devaluation – central banks employing loose money policies that push their national currencies lower in value than others.
“Currency wars mean exporting deflation,” said Shweta Singh, a senior economist with Lombard Street Research. “Cheaper currency allows countries to export at lower prices; country after country in the past few months has been trying out this strategy. But the Turkish economy seems to be holding its own.”…………………………………Full Article: Source

Is the commodity trade over? (Video)

Posted on 01 November 2013 by VRS  |  Email |Print

In this segment of The Motley Fool’s financials-focused show, Where the Money Is, analysts Matt Koppenheffer and David Hanson discuss the importance of commodity trading and financial innovation at firms like Goldman Sachs.
The golden age of banking is dead. But if you want to learn how to take advantage of the impending bank renaissance, click below to discover the one company leading the way. You see, this fast-growing company is poised to disrupt big banking’s centuries-old practices. And stands to make early investors like YOU a fortune… if you act now…………………….Full Article: Source

Japan allays G7 fears of currency war as value of yen plummets

Posted on 13 May 2013 by VRS  |  Email |Print

Japan convinced its partners in the Group of Seven leading industrial economies that it was not manipulating its currency as part of a bold attempt to get its economy out of a near two-decade period of stagnation.
At the conclusion of a two-day meeting between the leading financial representatives of the G-7 countries - the United States, Britain, Germany, France, Italy, Japan and Canada - British finance minister George Osborne said there was a formal acknowledgement that each member needed to secure their own country’s growth by balancing austerity measures with growth-enhancing policies…………………………………..Full Article: Source

Australia promotes carbon market with first trading licenses

Posted on 08 November 2012 by VRS  |  Email |Print

Australia’s Securities and Investments Commission granted the first 11 licenses to trade emission permits in Australia, a sign that a carbon market is taking shape despite a political threat to end the program.
“A market is beginning to develop, premised on the steady flow of issuance of carbon units,” Craig McBurnie, a senior specialist for the commission, said today at the Carbon Expo in Melbourne………………………………………..Full Article: Source

Peso outperforms key Asian currencies

Posted on 04 July 2012 by VRS  |  Email |Print

The Philippine peso has outperformed other Asian currencies in the first half of the year. The Bangko Sentral ng Pilipinas (BSP) reported the peso appreciated by 4.33% against the US dollar from January to July 2.
The rate of the peso’s appreciation was faster than other key currencies 0.4% for the Malaysian ringgit, 0.44% for the Thailand baht, 1.42% for the Australian dollar, 2.7% for the Singapore dollar, and 4.18% for the New Zealand dollar………………………………………..Full Article: Source

Commodity ETF flows: GLD, SLV benefit From demand

Posted on 25 July 2011 by VRS  |  Email |Print

Two largest precious metals ETPs benefit from surge of investor interest. Insatiable investor demand for precious metals exposure boosted commodity-related, exchange-traded product flows over the week ending July 21. The overall commodity ETP space saw inflows of $1.3 billion — the same as the week before — helping send total assets in the space to $173 billion.
Precious metals ETPs led with $869 million in inflows, followed by broad market (multicommodity) and energy products, with inflows of $236 million and $204 million, respectively……………………………………….Full Article: Source

Copper’s slide tempered by reconstruction talk

Posted on 16 March 2011 by VRS  |  Email |Print

From Dow Jones: Copper prices avoided the brunt of Tuesday’s commodity selloff, as traders looked beyond the imminent nuclear-reactor crisis to Japan’s reconstruction. “Copper is the first thing they’ll need to come back and rebuild,” said Charles Nedoss, senior market strategist at Olympus Futures.
May copper, which has the biggest number of contracts outstanding, ended 1.2% lower at $4.1370 a pound. Thinly traded March copper also fell by 1.2%, settling down 4.85 cents to $4.1250 a pound on the Comex division of the

Copper and nickel ETFs: Higher prices soon?

Posted on 19 July 2010 by VRS  |  Email |Print

From If a wave of heists in which robbers steal the metals in the United Kingdom is any indication, copper and nickel exchange traded funds (ETFs) are becoming a hot commodity.
Hundreds of tons of nickel and copper from a Liverpool warehouse were stolen in May, the latest in a rash of commodity heists spurred by higher prices……………………………………….Full Article: Source

Can the U. S. stop China’s currency manipulation?

Posted on 19 May 2010 by VRS  |  Email |Print

From The U.S. Department of Commerce reported that the national trade deficit widened more than expected in February as exports rose to the highest level in 16 months. This gain was offset by a bigger jump in imports, reflecting increased demand for consumer goods from clothing to televisions.
While exports of manufactured goods increased 1.6 percent, imports increased 3.9 percent. Manufactured goods comprised 80 percent of U. S. merchandise exports in February; however, manufactured goods also accounted for 75 percent of merchandise imports……………………………………Full Article: Source

Taiwan eyes carbon credits

Posted on 19 March 2010 by VRS  |  Email |Print

From AFP: Taiwan aims to engage in international carbon trading despite its diplomatic isolation by helping its allies in Africa and the Asia Pacific develop clean energy projects, an official said Thursday.

“It is an international trend, and Taiwan wants to help reduce the emissions of greenhouse gases to ease the effects of global warming,” said an official at the Environmental Protection Administration………………………………..Full Article: Source

Opalesque Exclusive: Highlight on energy (3) - Rampart bets on UK power

Posted on 04 February 2010 by VRS  |  Email |Print

Benedicte Gravrand, Opalesque London: Rampart has one of the few energy-focused funds that exist across the hedge fund industry. Energy, whether traditional or new, has provoked heated debates since the awareness of global warming and peak oil came to the fore. These funds try to take advantage of price discrepancies that these markets provide or of new opportunities arising in the nascent markets of renewables.

“The intense media pressure following the discussions in Copenhagen will continue to highlight the environmental sector,” said earlier this year Ian Simm, CEO of Impax Asset Management, a specialist environmental investment manager in London.

He believes that, as interest in clean energy, energy efficiency and the drivers behind environmental markets will continue to strengthen, 2010’s trends will include a tentative return to global growth with increasingly positive macroeconomic data and consumer spending improvements; better economics of recycling in light of rising commodity prices; and new markets arising from global warming policies.

The HFRI Energy/Basic Materials Index, which returned 4.06% in December and 41.58% in 2009, was one of HFR’s top performing indices that year. The same index was down 38.3% in 2008 (the worst performer that year) and up 16.4% in 2007 (the top performer that year).

Our fund today, the Rampart Capital European Energy Fund, is soon to be launched by two managers who believe that European energy, and in particular natural gas, coal and emissions are a niche commodity asset class. Energy markets have provided some spectacular returns, and whilst there are many hedge funds capturing these return in the US, very few are present in Europe, they say. The market is still in its infancy, with associated glaring inefficiencies at times. In conjunction with high volatility, this opportunity provides a great platform to generate superior absolute returns.

Rampart Capital LLP is an investment manager based in London specializing in the European energy markets, generally trading in UK natural gas and power, German power, coal, emissions (CO2) and oil - so a non-correlated asset class. The main partners, Marcello Romano (CIO) and Barnaby Reason (COO) previously set up and managed Foundation Energy Ltd, the first independent trader of similar products in Europe.

At Rampart, they started trading via a managed account on 1st September 09, so they have been operational since then. The Rampart Capital European Energy Fund, a Cayman-based entity, should be launched in the two next months. “We have an agreement with a few investors. We are currently operating a managed account with another one which opened on 1st December (the same strategy, for a new customer),” said Reason.

The fund’s strategy uses cross-commodity, location and time-spreads to provide high absolute returns on a positively skewed risk vs. returns basis. Rampart also follows a fundamental analytical approach to trading.

The managers look at the whole complex as one strategy. They trade in a lot of different cross-commodities, a lot of time-spreads; 75% of the portfolio is relative value; and any directional trade is in a short-term opportunistic phase rather than a strategic position.

“UK gas has probably the largest allocation of risk at the moment,” said Reason. It is a market that the partners know well, and that has more liquidity than any other energy market in Europe. They see some value in some of the spreads - more so than in other products right now. That can change month to month or week to week.

Rampart is not involved in the physical market at all. “We are only spreading futures so you can’t split out,” Reason explained. “In the actual commodity (market), the commodity is what is delivered. Whether it’s green energy or traditional thermally-generating power, it makes no difference. Gas is gas, and power is power. There is no differentiator in the wholesale market between the two.”

“We do trade emissions, carbon. When we trade power we often strip out our emissions risk.”

The managed account returned +3.97% in Dec-09 and +10.23% since inception. December was a month in which every trading strategy was positive, according to the managers, who also made gains on cross-commodity trades as they saw correlation between gas and oil break down. The oil contango continued to widen, also assisting their spread positions. Profit was also made on clean sparks as the emissions rally on the back of the Copenhagen Summit fizzled out and led to an emissions drop.

Very few of the European energy funds that are around trade UK products as most trade continental power or Nordic power, whereas Rampart trades European power and UK gas and UK power, continental gas, emissions, oil and coal.

“You must remember,” said Reason, “most of the risk and hedge fund capital in this space is currently being managed by multi-strats that don’t break (down) European power: you have Brevan Howard, Elliott, Tudor Capital, Centaurus and others. None of those companies break out a European performance discreetly. They’re just lumped together with all the other products they manage.”

UK power: trying to find more sources
In March 2007 the UK Government published a draft Climate Change Bill aimed at requiring a mandatory 60% cut in the UK’s CO2 emissions by 2050 (compared to 1990 levels). During that year, the total energy consumed in the UK was the equivalent to 164.6 million tonnes of oil (an increase of 11.74% compared to 1990).

Due to the decline in North Sea production, the UK is expected to become a major importer of oil and gas by 2015 (it became a net importer in 2004.)

It was reported earlier this week that the UK government had announced a tax break for gas exploration firms to encourage more drilling in the North and more investments, as it may contain “about a fifth of the UK’s remaining oil and gas reserves.” At the same time, the Energy minister issued a series of licences for exploration under UK waters.

Part one (Tiburon: Wind and solar won’t save the world, hence the renaissance of nuclear) can be found here, and Part Two (ARP: Now we can all hedge power exposure intelligently) here.

Opalesque Exclusive: Agricultural commodities might be a trend in 2010 (1) - many expect price hike due to supply/demand imbalance

Posted on 11 January 2010 by VRS  |  Email |Print

Benedicte Gravrand, Opalesque London: Agricultural commodities have always been a riskier part of the commodities market. But due to its inherent volatility, it is a good place to hedge, using leverage and futures contracts for example. The industry is also a good place to invest if you believe that the food production levels will have to increase dramatically to meet the needs of the rising population – so the likes of fertilizers might be a good bet. And if you believe that there is a food crisis, as stocks are dwindling and population is increasing, then betting on rising crop prices can be a good thing too.

Some fund managers agree that the de-correlated agricultural market is good for diversification but not for long-only investing, however (see Oct-09 Opalesque Exclusive here). And most say that, currently, most of the market is in contango and that inventories are too low.

Agricultural commodities (“agri”) were not really swayed by the 2008 crisis, except when investors sold everything. What really affects them are the weather, plantations and harvests, speculators, inventories, liquidity, the risks of contango (when the price of a commodity for future delivery is higher than the spot price) and backwardation (when the contract approaches expiration, the futures contract will trade at a higher price compared to when it was further away from expiration).

Some agri funds
Among the managers who are betting on agri and softs, we heard that Earth Capital Partners in London was planning to launch a sustainable agriculture fund early this year; that Optima, a $6bn FoHFs firm in New York, had launched $100m fund to invest in American farmland as fears of food inflation are growing; and that Clive Capital had closed a $4bln commodities hedge fund to new investors, which had returned 4% in November partly thanks to agriculture.

Among BarclayHedge’s indices, the Agricultural Traders Index was up 0.11% (est.) in December and -1.46% YTD (Barclay CTA Index was down 0.72% (est.) and up 0.62% YTD.)

According to the managers at Attunga Capital, an investment firm in Sydney, the agricultural markets in November hitched themselves to the US$ and global recovery bandwagons. When combined with large fund flows (current and projected), this sent the grain complex higher despite the bearish fundamentals surrounding large domestic and global supplies of wheat, corn and to a lesser extent soy. The sugar market continued drifting lower, which will test the resolve of the many large long positions of directional players.

The $10.9m Attunga Agricultural Trading (offshore) Fund invests in global exchange traded soft commodity and agricultural derivatives and securities. In November, it was down 5.73% since its June-09 inception (see Dec-09 Opalesque Exclusive: Attunga Capital announces new fund, new strategy and new hires for 2010 here).

The Lumix AgroDirect Fund, run by Lumix Capital Management in Switzerland, makes direct investments in the agricultural sector in Latin America, investing in the production of agricultural commodities in leased farmland. Production is outsourced to local agricultural operating partners, whom Lumix audits and controls. The fund also invests in ABL in the sector. Launched in August 2009, it has returned +2.96% since.

The GAIA World Agri Fund, launched in May 2008 and run by GAIA Capital Advisors, an investment advisory company based in Geneva, invests opportunistically in upstream farming operations, agri-land, equipment and technology and related businesses in emerging regions like the former Soviet Union, Africa, and LatAm. The fund invests globally, in equities only and not in physical commodities, futures or options. Class B of the fund gained 6.44% in November and is up 51.03% YTD – following last year’s 50% losses.

Last Supper for Malthus
GAIA was founded in 2006 by J. Coast Sullenger, who talked to Opalesque after the presentation of a film by Klaus Pas in London last month. The film, called “Last Supper for Malthus”, is a documentary on the possible outcome of a growing population. It pits two British economists against one another, Thomas Robert Malthus and David Ricardo, and brings in various experts who discuss the world population (now at 6.7 billion and expected to reach 9 billion in 2050), limited supply and the global food crisis.

Malthus, who died in 1834, wrote the “Principles of Population” which predicted that sooner or later population gets checked by famine, disease, and widespread mortality. He wrote, rather pessimistically; “The power of population is indefinitely greater than the power in the earth to produce subsistence for man”.

Ricardo, who died in 1823, was an opponent of protectionism for national economies, especially for agriculture. He believed that the British “Corn Laws” - tariffs on agriculture products - ensured that less-productive domestic land would be harvested and rents would be driven up (Parliament repealed the Corn Laws in 1846.)

Stocks and prices
The U.S.D.A., in its Dec-09 report called “World Agricultural Supply and Demand Estimates”, said it expects lower stocks in many of the products, such as coarse grain, rice, sugar, cotton. However, global wheat supplies and production and ending stocks are expected to be higher.

And some investors think that prices for agri and softs could well hike up again in 2010 – which could help the contango situation. The Goldman Sachs Commodity Index has recovered to levels around the 500 point mark, compared to about 350 points at the trough, said Daniel Zurbrugg, partner of Swiss firm Alpine Atlantic Global Asset Management, but the index is still far from the peak of 890 points in 2008 when prices were driven by a lot of speculation. He believes that the supply / demand situation (not the returning speculators) might push prices up 30% this year. Jim Rogers, the loud investor, is also stocking up on agris, apparently.

Tomorrow: Interview with GAIA’s J. Coast Sullenger.

Commodity exchange to establish information systems in 36 states

Posted on 03 November 2009 by VRS  |  Email |Print

From In a bid to ensure global best practices and achieve competitiveness, the Abuja Securities and Commodity Exchange (ASCE) have concluded plans to set up a market information system for 12 commodity markets in the Nigeria.

ASCE Managing Director, Mr. Yusuf Abdurrahim also assured that within few weeks’ time, the market information systems for the 12 major markets will be replicated in the 36 states of the Federation……………………….Full Article: Source

DA, PSE eye commodity futures market in Philippines

Posted on 02 November 2009 by VRS  |  Email |Print

From The Department of Agriculture and the Philippine Stock Exchange (PSE) have teamed up to start the process of reviving the country’s commodities futures market after the first one turned out to be a sham and collapsed over 20 years ago.

Agriculture Secretary Arthur Yap and PSE president Francis Lim signed a memorandum of agreement last Friday to so they can work together to prepare everything necessary for the electronic trading of spot commodities and, eventually, commodity futures……………………….Full Article: Source

Opalesque Exclusive: Carbon and emissions trading in Europe, Part Two - Some foresee a perfect storm and carbon challenges for the energy sector, Climate change revisited

Posted on 30 June 2009 by VRS  |  Email |Print

Benedicte Gravrand, Opalesque London: Following yesterday’s Part One - How the Europeans do it: Source.

Two of the financial groups that bet on climate change are in focus today; one foresees a price hike in emissions allowances in the near future, the other bets on oil and gas firms that are prepared for the forthcoming low-carbon economy.

Akur Partners sees the silver lining in an approaching perfect storm Tom Frost, who has a PhD in Climate Change and who is a founding partner at Akur Parners, a new finance and equity capital markets advisory firm based in London, wrote an interesting presentation on the carbon markets in Europe, forecasting a ‘perfect storm’ (an analogy for an event where a combination of circumstances will aggravate a situation drastically.)

The EU Emissions Trading Scheme (ETS) is the world’s most advanced and far reaching market designed to tackle climate change, he notes. It is intended to give industry (which must participate) flexibility and control to choose how to meet emissions reductions targets, whether through investment or the trading of emissions allowances. Currently worth over Eur20bn, it is lightly regulated and in its infancy.

During ETS’ Phase I (2005-07), the EU over-supplied emissions allowance - bringing prices down to zero. In the current Phase II (2008-12), it is under-supplying it. Frost believes that a significant supply squeeze could impact the EU market before the end of the current phase. As distressed buyers of emissions allowances come to the market simultaneously, prices may spike to high levels - and this could be a golden opportunity for financial investors.

Akur’s quant model forecasts EUA price of Eur64 by 2012 - from Eur10 Akur Partners’ new EU emissions Allowance (EUA) pricing model seeks to find the fundamental price point for an emissions allowance traded on the EU ETS. It attempts to take into account feedback mechanisms likely to impact the supply of carbon credits to the scheme, and the impact of banking and borrowing allowances.

Akur’s base case scenario sees a potential EUA price of Eur64 ($90) toward the end of the current phase of the scheme (including weak speculator activity), versus the current market price of c.Eur10. An upside case examines the potential impact of strong speculator activity and sees the potential for the Eur100/EUA price ceiling to be tested.

An explanation of AKUR’s ‘perfect storm’ is in the firm’s recent presentation ‘The carbon markets - Europe’s perfect storm is brewing‘ which can be found here: Source.

Climate change - revisited The greenhouse effect is the mechanism by which the planet’s surface temperature is kept warm and regulated by the atmosphere. Gases in the atmosphere act as panes of glass, insulating the planet. Man-made emissions have amplified this natural effect - resulting in global warming, the general average warming of the planet - as a result of which, climate change occurs. Examples of climate change include increased rainfall, extreme weather events, drought, higher temperatures (and lower temperature in some places as ocean circulatory patterns change).

According to charts Tom Frost gave out in a presentation in London last month, levels of Carbon Dioxide (CO2), Methane (CH4) and Nitrous Oxide (N2O), as well as temperature, have all risen significantly since the 1800s, when the industrial revolution started - compared to the previous 800 years during which levels were steady.

These three major greenhouse gases make up for less than 0.04% of the total volume of the atmosphere - but the majority of the warming impact on the planet is from these three gases. Frost adds t………………….

To view our full article Click here

iFAST Research says Malaysian commodities not promising in 2009 despite outperforming in January this year

Posted on 27 February 2009 by VRS  |  Email |Print

From Komfie Manalo, Opalesque Asia: A study made by iFAST Research Team and published on in January said that the Malaysian commodity market was not promising in 2009. The study entitled: “Malaysia Commodities Updates – A Cyclical Downturn,” said that in the short to medium term, Malaysian commodities depended on the magnitude and duration of the economic downturn.

Without a hint of convergence to steadiness, it is hard to anticipate when the commodity market will start to recover. The future price movements of both crude oil and palm oil are reliant on various factors, the study said. Besides the demand and supply factors, substitution effect and speculation on commodities also contribute to price movements.

The researchers said they were not able to predict when the down cycles of both commodities prices would come to an end. Both crude oil and palm oil are currently trading at a level below their cost of production.

Impact of lower palm oil prices on the Malaysian economy
Palm oil prices have a strong positive correlation with economic growth. Higher palm oil prices would be good for the Malaysian economy as rising palm oil prices would help to increase export revenue. Lower palm oil prices will not bode well for families that are involved in the cultivation and manufacturing process of palm oil. Plantation companies contributed about 8% to the total market capitalization of the KLCI Index.

Sluggish outlook for palm oil
According to iFAST, demand for palm oil will be lower this year because of slowdown in the economies of major exporters. China, the largest exporter of Malaysia’s palm oil, is expected to grow at a slower pace of 8.5%. The remaining top 10 exporters are Pakistan, Netherland, the U.S., India, Japan, Jordan, Ukraine, the UAE and Singapore. With countries like the U.S., Japan, Singapore, and some European countries falling into a recession, and most countries generally growing more slowly, demand recovery will not be immediate, the study said.

Supply is also affected because of the rising cost of production. Some plantations have stopped cultivating or discontinued fertilizing activities.

Impact of oil prices on the Malaysian economy
Lower crude oil prices would mean lesser government revenue and lower government expenditures. The government would then have to borrow from debt markets to fund future spending.

High oil prices hurt the consumer because of high inflationary pressure. Malaysia experienced an all-time-high inflation rate of 8.5% in July and August 2008 after the government raised the petrol price by a whopping 41% to $0.72 per liter.

Crude oil outlook
iFAST researchers cited figures released by the U.S. Energy Information Administration in November 2008, which said that the short term outlook for both energy demand and prices would be weaker on deteriorating growth prospects and continuous withdrawal of funds from commodity markets.

For the coming 12 months, the weaker demand will be the dominant factor for lower crude oil prices apart from the ability of OPEC to restrain supply. In the short term, iFAST expects oil prices to remain at depressed levels but added that such low prices were not sustainable for the medium to long term.

Malaysia commodities lose out in 2008
Data released by Thomson Reuters Lipper showed that commodity funds in Malaysia posted an average decline of 33.3% in 2008 and an average gain of 4.61% last month, said

A report by (Opalesque 30-Jan-09), said that mutual funds registered for sale in Malaysia declined by an average of 22.28% last year. (

PIMCO launches fixed income, currency fund

Posted on 06 February 2009 by VRS  |  Email |Print

From Reuters: Pacific Investment Management Co said it will launch a new global fixed-income and currency fund on Thursday, underscoring investors’ appetite for comprehensive diversification and downside protection.

The fund from PIMCO, which is the world’s biggest bond investment manager, will invest in a broad range of currencies through foreign-denominated debt and plain currency exposure as well as fixed-income securities and instruments, such as corporate bonds and inflation-protected bonds….. Full Article: Source

Opalesque unites Fusaro, Prof. Siry and Sona Blessing for Carbon Led Investing Webinar

Posted on 02 February 2009 by VRS  |  Email |Print

Opalesque A SQUARE (”Alternative Alternatives”), still the world’s first and only publication and independent research portal dedicated to alternative alternatives, has drawn leading experts in the field of carbon management for an interactive webinar on Feb. 11th, 2009 16.00 Swiss time, 10.00 am (EST):

Peter C. Fusaro, Chairman, Global Change Associates - Energy and Environmental Consulting and engaged in the process at the US federal level

Professor Jacek P. Siry, a specialist in carbon sequestration issues, at The Center for Forest Business, Warnell School of Forestry and Natural Resources, University of Georgia

Moderator Sona Blessing, Director of Research, Opalesque Ltd

The experts will share insights and perspectives based on their “hands-on-experience” in this space and will address the following:

· Carbon emissions - facts, figures, fantasy
· Carbon sequestration
· How investible is it as an asset class?
· Could carbon become the biggest of any derivative product over the next 4-5 years?
· Cap and trade as a mechanism
· Carbon compensation: growing, cultivating, harnessing forests, other offsetting methods
· Pricing carbon emissions - the mechanics
· The prospects for carbon trading post 2012
· Role of the US - shifting from a voluntary to a compulsory system

Agreeing on a global regulatory framework - how realistic?

The EU endorsed a plan in December 2008 to reduce the 27-nation bloc’s greenhouse gas emissions by 20 per cent from 1990 levels by 2020
Member states and other developed countries are urged to increase that figure to 30 per cent – how realistic is this?

A SQUARE subscribers can confirm their participation in this webinar here:∧=webinar. In order to participate, you are formally required to register to confirm your attendance.

Non-subscribers to A SQUARE can set up their subscription here: and participate for free in the webinar. See here for A SQUARE subscription rates:

Non-subscribers can also purchase an admission pass for this webinar here:∧=webinar ($80 admission).

The Panelists:

Peter C. Fusaro is Chairman of Global Change Associates, a financial services advisory in New York, and the best selling author of What Went Wrong at Enron and 14 other books on energy and the environmental financial markets. He is an energy industry thought leader noted for his keen insights in emerging energy and environmental financial markets and has been at the forefront of energy and environmental change for over 30 years focusing on oil, gas, power, coal, emissions, carbon trading and renewable energy markets. He coined the term “Green Trading“ and co-founded the Energy Hedge Fund Center LLC.

Jacek P. Siry, serves as associate professor of forest economics at The University of Georgia’s Center for Forest Business.

He has expertise and experience in forest carbon sequestration, forest industry competitiveness issues including timber trade, availability and cost, that span the world’s major producing regions. He has a Ph.D. in Natural Resource Economics and Forest Policy, University of Georgia

Opalesque A SQUARE = Alternative Alternatives is the first web publication, globally, that is dedicated exclusively to alternative investments. A SQUARE’s weekly selection feature unique investment opportunities that bear virtually no correlation to the main stream hedge fund strategies and/or distinguish themselves by virtue of their “alternative” motive - social, behavioural, natural resources, sustainable /environment related investing.

With its “research that reveals” approach, fast facts and investment oriented analysis, A SQUARE offers diversification and complementary ideas for: private, high net-worth and institutional investors, pension funds and endowments, portfolio and hedge funds managers. For more information please go here:

Opalesque has been publishing Alternative Market Briefing, the premium news service on hedge funds and alternatives, since February 2003. Opalesque was runner-up at the State Street Institutional Press Awards 2008 in the well contested category of most innovative media outlet. Opalesque’s weekly 600,000 issues of its eight web-based publications are read in over 130 countries. For more information, please go to

ETF Securities files for silver ETF in U.S.

Posted on 30 December 2008 by VRS  |  Email |Print

From ETF Securities, a leading provider of commodity-based exchange-traded products in Europe, is entering the U.S. market.

The London-based company has more than $6.5 billion in assets under management and more than 100 different products trading in Europe. It has resolutely stayed away from the U.S. market, however, until now…. Full Article: Source

Hit on commodities seen as short-term

Posted on 30 November 1999 by VRS  |  Email |Print

Mark Carney

Southwest airline southwest airlines 913

The Japanese earthquake of March 11 and tsunami took a toll on some commodity prices in mid-March, but the negative fallout is likely to prove temporary as Japan gears up its economy again, Scotiabank’s commodities expert Patricia Mohr said.

Scotiabank’s commodity price index, covering 32 of Canada’s major exports, rose 1.1 per cent in February from January, for the eight consecutive monthly gain and reaching 49 per cent above the cyclical low set in April 2009……………………………………..Full Article: Source

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