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CFTC's Chilton to say carbon markets will soar
|NEW YORK (Reuters) - The head of the U.S. commodity futures regulation agency is scheduled to say on Wednesday that greenhouse gas emissions markets could become the largest commodity market.|
"Even with conservative assumptions, this could be a $2 trillion futures market in relatively short order," Bart Chilton, the commissioner of the Commodities Futures Trading Commission, said in a release ahead of an appearance in New York.
The European Union regulates greenhouse gases and launched an official emissions market in 2005. Both U.S. presidential candidates support prompt regulation of the gases blamed for warming the planet to encourage cutting emissions with markets.
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