The ICE daily CER continued to trade as a political option with notional pricing, remaining flat at 0.14 EURO (unch%). ERUs are trading around 50% of this price. Kyoto units are trading in low volumes, virtually no volumes in CERs or ERUs are trading after a weak EU back-loading vote occurred yesterday that simply kicked the can down the road. There is no new demand source for carbon credits that can improve the emissions market at this point, only a political decision to address massive oversupply can turn things around. Too many ERUs and CERs have been issued already for there to be any meaningful supply/demand intersection, and more are printed every month, the market is swamped.