The ICE daily CER fell another 8 cents on Monday, closing at 0.64 EURO (-11.11%). Six days days into Doha and we're well into the expected deadlock. At some point prior to the conference's end on 7 December - which is Pearl Harbor Day in the USA - the country representatives will try to announce some form of "agreement to agree" meant to demonstrate the carbon emissions from all the flights to the conference weren't wasted. If this happens, there should be a bounce in the market before they return to their downward spiral. There's a fundamental supply and demand issue. Cheap ERUs and CERs continue to flood the market particularly through JI's Track 1 back door, and this looks to accelerate for the rest of the year. There is no demand spike for carbon credits to effectively offset supply growth, due to the global economic slow down and international failure to agree on meaningful coordinated greenhouse gas reductions in the short or medium terms. The trend seems to be for countries to focus on fixing their economies and discussing smaller localized emissions reductions efforts which could become linked (or not) in future times.