Congratulations to the New York Times for this stunning finding: “Cap-and-Trade Is Beginning to Raise Some Concerns.” The Times reporters must have worked tirelessly to uncover this.
According to the Times this latest “controversy over offsetting is the latest blow to emissions trading, which has been racked by a spate of problems in Europe including cyberattacks, tax fraud and recycling of used credits.”
I am sure no one saw this coming (snark alert!).
Further, the Times reports,“But that benefit is largely outweighed by the bad because, once again, we’ve seen doubts cast over the way that carbon markets are working.”
Good thing We the People have Obama just in case the Cap and Trade legislation comes back. He’s smart enough to make sure we have none of the problems Europe has had (satire alert!).
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This is a pretty good article on the acid rain cap-and trade market that was published last month in the WSJ. It shows how the a market based solution to a problem can work, and how fragile it is to governmental rulings.
http://online.wsj.com/article/NA_WSJ_PUB:SB10001424052748704258604575360821005676554.html#articleTabs%3Darticle