By Christopher Booker 7:26PM GMT 13 Nov 2010
Nothing more poignantly reflects the collapse of the great global warming scare than the decision of the Chicago Carbon Exchange, the largest in the world, to stop trading in "carbon" – buying and selling the right of businesses to continue emitting CO2.
A few years back, when the climate scare was still at its height, and it seemed the world might agree the Copenhagen Treaty and the US Congress might pass a "cap and trade" bill, it was claimed that the Chicago Exchange would be at the centre of a global market worth $10 trillion a year, and that "carbon" would be among the most valuable commodities on earth, worth more per ton than most metals. Today, after the collapse of Copenhagen and the cap and trade bill, the carbon price, at five cents a ton, is as low as it can get without being worthless.
Here in Britain, as the first snows fall, heralding what may be our fourth cold winter in a row, it is time we addressed one of the most glaring political "disconnects" in our sadly misgoverned country.