This study examines carbon spot and futures price relationships and the dynamics of the carbon term structure in the European Union Emission Trading Scheme (ETS) between 2005-2012. Using spot and futures prices, we calculate an implied cost of carry. Using sequential futures prices, we calculate...

This study examines carbon spot and futures price relationships and the dynamics of the carbon term structure in the European Union Emission Trading Scheme (ETS) between 2005-2012. Using spot and futures prices, we calculate an implied cost of carry. Using sequential futures prices, we calculate...

We examine why and how coal liquefaction, or coal-to-liquids, makes its case in China. Different from Europe and the United States, China is actively developing coal-to-liquids technologies and projects. Different from conventional wisdom that in China the central government mandates and guides...