Reaping a profit from the air

Los Angeles Times reports that as concern grows over global warming, farmers and corporations are responding by trading carbon credits through a Chicago exchange.

When Doug Gronau looks out the window of his Iowa farmhouse, he sees a profitable investment in the effort to stop global warming.

Most people see cornfields.

His cropland, which he is prohibited from tilling, is a greenhouse gas credit, packaged and sold on the Chicago Climate Exchange. An anonymous trader snapped up the field’s ability to absorb carbon dioxide to offset — on paper — a tiny portion of the carbon dioxide emitted by some distant factory.

Gronau, 57, expects a check for $2,800.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: