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chapter 15
Cap-and-Trade Politics
Virtually all allowances were handed out for free under the wildly successful sulfur dioxide trading program in the U.S.
—Nathaniel Keohane, Director of Economic Policy and Analysis,
Environmental Defense Fund, 2008.
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Importance: Cap and trade has been used to buy the support of business with free permits which are highly profitable because business still passes on their "cost."
Main Ideas:
• European businesses have made billions off of free permits (allowances).
• Permits prices are volatile, making cap and trade a risk form of tax.
• Caps are not locked in, but can always be changed, as our goals change.
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http://stoft.com/p/67.html | 01/06/09 00:46 GMT
Modified: Mon, 05 Jan 2009 05:37:53 GMT
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Look Inside on Amazon
China has nixed caps for 15 years. Kyoto is stuck. Addiction continues. OPEC will soon return.
Environmental & energy-security forces distrust each other.
Carbonomics shows the policies of cooperation, the only path to success.
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