Carbon Credits almost worthless

As Luboš Motl points out, the European Union Emission Trading Scheme (EU ETS), the largest emission market in the world, has reported it's price of carbon credits has fallen from 30 euro per ton of CO2 emissions to now 9 euro cents per ton. The price has plummeted to more than 300 times less it's value, and Luboš hypothesises what will happen when the price falls to zero.