RE: [hreg] The story of cap and trade
Excellent program, thank you for this!
The US was the originator of cap and trade for SOX pollution. Our system actually worked fairly well as I understand in reducing SOX emissions. The European version, which we taught them in the early 90s has had all the difficulties Annie Leonard describes. The devil is definitely in the details, which included lack of transparency, reporting problems, in addition to the free permits and offsets she mentions.
And then there’s the question of regulation. In the US , it would be the CFTC – Commodities Futures Trading Commission. These are the same folks who regulate…Derivatives. Watch this excellent Frontline program about the crash of the Derivatives markets and the woman who warned of it, if you would like to learn more about the role of the CFTC.
The best, most effective and simplest system would be a carbon tax. In addition, as Annie points out, we should have NO subsidies for oil, gas and coal – subsidies that the US has had for 100 years! There is a move internationally, and perhaps at Copenhagen for all countries to remove oil and gas subsidies.
A cap is imperative.
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Sent: Wednesday, December 02, 2009 6:23 PM
Subject: [hreg] The story of cap and trade