CO2 Fundamentals unchanged; price is floating on the wind

Though fundamentals of the carbon market are yet unchanged, awaiting 2008 verification numbers in May, the CO2 price seems to float to wherever the wind blows. Now with the increasing oil price, than with the German power price.
Interesting is the growing interest in globally linked Emissions Trading systems; that is to say indirectly linked through the CDM. And though CDM is more and more seen as flawed and loaded with loop holes, it is seen as a transition to a globally linked carbon market. That means that CDM will keep pace with the EU ETS, as we see now.