It has recently become clear that all three leading United States Presidential candidates favor cap in trade when it comes to carbon emissions and since this revelation the share price of carbon credits have skyrocketed, doubling in price and they continue to climb.

Democratic candidates Barack Obama, Hillary Clinton and Republican candidate John McCain have all alluded to the fact that they favor a cap in trade when it comes to carbon emissions.

The target reduction rate necessary to become a member of the United States leading carbon exchange, the Chicago Climate Exchange, is currently 6% with the initial year being 2000 and the year the goal needs to be reached 2010. This market is currently just anticipating future legislation. However this is the just of how the market of carbon trading will currently works (and will be solidified through what seems to be looming legislation) is that a goal for carbon emissions reductions will be set for individual corporations in the United States. A goal date will be set and the starting point will likely be around the amount of carbon emissions produced by a given organization in the year 2000. They will then be asked to reduce their 2000 carbon number by 6%. If a wealthy corporation does not believe that it will be able to meet the target percentage goal for reduction by 2010, for whatever reason, because they are currently focused on growth, or simply because they place economic growth as a higher priority than reduction of carbon emissions. Whatever the reason, if they do not believe that they will be able to meet government target reductions they will be able to purchase percentage points from corporations that have exceeded or are expected to exceed government target rates.

With the majority of carbon trading in the United States taking place at the Chicago Climate Exchange that is where the large corporations such as DuPont and Ford have already signed on as members along with over 350 other organizations, including universities and municipalities.

The six gases that are traded on the Chicago Climate Exchange are carbon dioxide, methane, nitrous oxide, sulfur hexafluoride, perflorocarbons and hydrofluorocarbons.

Reaction to the emerging carbon trading market has been mixed. Supporters of energy reform have embraced the new economic front by essentially saying that there is no harm in cashing in on the opportunity to improve the condition of the environment. While at the same time this climate exchange has given fuel to global warming skeptics who claim that the portrayal of global warming as a human inflicted phenomenon is simply a way for corporations to cash in on a new market that promises to be very bullish in the coming years. While others still have questions the ethics behind allowing wealthy corporations to buy their way out of energy reform and conservation by simply paying off the organizations who have taken the time and effort to improve the environment.

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