Why did environmentalists pursue cap-and-trade to cut emissions and was it a doomed strategy?
NeilT #16, you lose a good deal of credibility in my eyes when you label the European Union ‘Left leaning’, although I do agree that subsidising (I think that your differentiation between ’subsidy’ and ‘incentive’ is pretty tenuous) low emissions technologies is a good idea, although the market fundamentalist Right rejects that, too. Europe is only ‘left-leaning’ compared with the US and its satellites. Returning to reality, cap-and-trade is, in my humble opinion, bollocks and a dead-end. It will achieve nothing but be a venue for the grifters and banksters of financial capitalism to rig the market and blow up new bubbles, all the while skimming billions in ‘fees’ off the surface. Like all these financial scams it will promote volatility in price, which is more preferable and profitable to the grifters, but poison to business planning for the actual users of energy. It wil...