Saturday, April 13, 2013

Cap and trade: corporate welfare, and buying "greenness" on the cheap.

International cap-and-trade markets expanding – but still contentious | Environment | ""The state gave away 90 percent of its allowances in the first year, and over half of mandated emissions reductions will be produced by offsets, which are notoriously prone to gaming and displace rather than actually reducing emissions," he notes.

"After you take these factors into account, they could make up more than 100 percent of the reductions in California – meaning that the cap and trade will result in zero emissions reductions in the state. The law is supposed to be creating incentives for innovations, whereas cap and trade merely allows the fossil fuel industry to keep polluting at historical levels.""

'via Blog this'

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