Most markets, in the traditional sense, are dynamic and not completely controlled by governments. Corn, pork, orange juice, gold, mobile phones, irrigation sprinklers, furniture, financial loans depend on weather, natural resource availability, consumer demand and effective service. Government have some control but not total.
The carbon market is 100 percent controlled by governments. They say how much pollution is allowed and how much is not. They control the CO2 permits. You cannot touch and feel the carbon market like you can most other markets.
The UN's Copenhagen discussions and negotiations this week are more about control than global warming. Getting 125+ nations to agree on a carbon emissions program is completely unrealistic.
The wealthier nations should not pay for the the less-wealthy nations' emissions control efforts. The less-wealthy nations should not expect the financial assistance from wealthier nations (but it does not hurt to ask). Nations whose people are more worried about where there next meal is coming from are so far removed from the fact/fiction, man-made global warming discussion. It makes little difference to them and their lives.
With the goal of the Copenhagen conference to find a way to rein in global emissions, whatever is decided, enforcement is all but impossible.
If nations believe that reducing their emissions will better their world, then each should strive to do so independently. Just because developing nations spread tons of CO2 into their breathing air and sky does not mean that every other nation should do the same.
When it comes down to it, this is an economical decision, not a climate one. Each country will do and should do what is their individual best interest.
At the White House with Trump
26 minutes ago