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Carbon emission trading permits may go from 10 EUR to 2 EUR

The carbon emission trading permits look almost like capitalism except that the true value of the product is clearly zero unless it is artificially pumped to a different level by something that has nothing whatsoever to do with capitalism.

The current value is 10 EUR per permit. Jan Pravda, a chief executive of Pravda Capital, emission dealer, said that with probability of 80 percent, the price will drop to 2 EUR per permit or lower by 2007 because of excess supply of the permits.

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