Why cap and trade?
An emerging consensus suggests that the answer will be what is referred to as a cap and trade system. Barack Obama, John McCain and Hillary Clinton all propose a cap and trade system as the centerpiece of their environmental agendas. The European Union has had a functioning market for carbon since January, 2005. A group of states in the Northeast have started a regional cap and trade system, and Western and Midwestern states, including Minnesota, are working toward developing their own regional systems. The Chicago Climate Exchange is a private voluntary trading system, which boasts members from heavy industries, such as coal mining, to local and state governments and universities, including the University of Minnesota. Cap and trade systems are appealing for two main reasons. First, unlike traditional regulatory schemes, they are market-based. Cap and trade systems allow economic forces to dictate where emissions cuts will occur, rather than relying on government mandates. The U.S. ha
Related Questions
- Since Cap & Trade is already on the table wouldn’t it be beneficial to just get it passed and then try to refine the policy or push Fee & dividend?
- Was the cap and trade scheme a deceitful and worthless scrap of paper as The Guardian says?
- How can we cap and trade rental rights in my co-op (condo-ish) building?
