A follow-up to your note, John -

in discussions with Natsource, I understood that Marubeni effectively obtained cheap advertising as first ever emissions trading deal in UK under the UK Emissions Trading scheme, all that for around ?50,000 (10,000 tons at ?~5 per ton).  It is unlikely that Marubeni will ever retire these allowances in the UK, and even more unlikely that these will be recognized and accepted in Japan.  

Natsource mentioned they have another possible seller at a price of ?5 per ton, but no buyers in that range.  There is, however, a firm bid at ?3.5 per ton CO2.

 -----Original Message-----
From: 	Oliver, John  
Sent:	25 September 2001 20:53
To:	Jacobson, Lisa; 'Redshaw, Louis'; Profir, Diana; Badger, Dan; Hussain, Mustafa; Woods, Trevor; 'Taylor, Michael E'; 'Schoen, Mary'; 'Bolton, Stacey'; Mainzer, Elliot; 'Keeler, Jeff'
Subject:	RE: UK Allowance Release....

A follow up - I understand the price of the DuPont / Marubeni deal was somewhere between ?4 - ?6.50 per tonne of CO2.