Tuesday, December 08, 2009

James Hansen on the folly of cap and trade

At the international climate talks in Copenhagen, President Obama is expected to announce that the United States wants to reduce its greenhouse gas emissions to about 17 percent below 2005 levels by 2020 and 83 percent by 2050. But at the heart of his plan is cap and trade, a market-based approach that has been widely praised but does little to slow global warming or reduce our dependence on fossil fuels. It merely allows polluters and Wall Street traders to fleece the public out of billions of dollars.

My first post on cap and trade here, back in June 2008:
Global warming may be a problem; maybe not. Cap-and-trade will definitely be a problem.

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