It's not just oil prices that are taking a beating: EU emission allowances (EUA) under the Emissions Trading Scheme (ETS) have fallen by more than 20% over the past week or so to around ?12.90 ($18.54) per ton of carbon dioxide on the European Climate Exchange on Wednesday. That compares with a high of more than ?17 in the wake of Germany's decision to back away from nuclear power amid the ongoing nuclear crisis in Japan (IOD Jun.1'11).
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