Carbon credits coming to biodiesel

I have been talking for some time about the extra values that are available from burning biodiesel versus petro diesel.  One of these is the value of carbon reductions (since biodiesel produces 78% less carbon than diesel).  There are a number of organizations trying to get a protocol approved from an exchange to value the credits.  The current leading market which should approve biodesel carbon credits first is the Chicago Carbon Exchange (CCX).  Biodiesel Mag has an article on this.  I expect this to happen by Q1 08.  This will be a very interesting development for the overall biodiesel industry.