This post notes that the fear of many economists (that cap and trade would turn into give away that did little to rein in carbon) has come true.
The current legislation is about regulation and special interest exemptions/bribes; it’s NOT about addressing climate change and/or reducing carbon output.*
Such a pity. No, actually, it makes me sick. Fuck. Doesn’t anyone have a brain or is it just so obvious that the DC-crowd exists to suck in tax dollars/bribes and push out BS. Arg!
Bottom Line: The lower I go with my expectations, the worse I feel when they are exceeded (on the downside). If you want to reduce carbon output, then TAX IT.
* For a fisheries example (via BT), check out the hack they made out of an “auction” to retire crab licenses. When prices didn’t work, they just told owners to take it or leave it. They should have used my all-in-auction design
