Thursday, April 10, 2008

Oh no! Gas Emissions!!

It seems that the European Union is having a very difficult time controlling gas emissions. They are hoping that the carbon trading scheme that they are relying on starts to work the way that they had intended it to do. Unfortunately, there were too many carbon credits doled out at the start of the program and the value of the credits and their supposed incentive did not materialize. We do know that the E.U. just loves depicting itself (see my last post here) as being far more environmentally responsible than the U.S. while claiming that industry can only benefit from a cap-and-trade scheme. I say forget cap-and –trade and if we must have pollution control than just have a carbon tax. It will save us from a lot of headaches.

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