The idea of a cap-and-trade scheme is that the cap shrinks, requiring a progressive reduction in carbon emissions. Meanwhile the trade means that the cuts in emissions take place where they are cheapest, meaning the maximum benefit for the least cost.
That’s the admirable theory. In practice, two factors have left the EU ETS in ruins, with a price – today about €4.50 – far below the €20 where it will even start to have an effect. The first is industrial-scale lobbying from the vested interests which has led to vast windfalls being handed to many companies in the energy-intensive sector (but not the energy sector itself). The second is the global recession, which has reduced the already-inflated demand that the companies projected.
Disrupting the Borg is expensive and time consuming!
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It already has been introduced – just never passed. It has less chance now than it did 5 years ago. I was not Crazy about Bush’s commitment to opposing it. I know Obama loves it, but at least the republicans are in opposition now.
To even consider such a scheme that does nothing but put a burden on the economy, make everything more expensive for everybody, and with the goal of solving a non-problem of a fraudulent scam, is just nuts, but there are a bunch of individuals, such as Alja-Gore (aka ManBearPig) who stand to make a fortune.
It never was a good idea,particularly as we cannot easily stop using carbon resources for producing the vast majority of our energy. Do these idiots really think they can force the US to wind and solar? Geothermal and biofuels are non-starters as energy sources on any real scale, except very local.
An empty tax on productivity and business. A money grab.
“I know Obama loves it, but at least the republicans are in opposition now.”
Can you say Executive Order?
Who cares about what congress thinks anymore… or what they think they can do for that matter. They have become obsolete and un-necessary. We now have The One who “carefully considers” and then decides what is best for us.
We are now being ruled by decree, so get used to it. CISPA was decreed yesterday, and the antigun laws will follow very shortly, followed by “voluntary buy back” (hand them over and we’ll give you a tax credit, or go to jail) coming shortly after that and all will be done by Executive Order.
Cos crap and raid has always worked before?