Friday, December 7, 2012

Carbon pricing opportunity

At MIT Technology Review: "Europe's Carbon Trading Problems May Influence U.S. Climate Policy."

There's an opportunity here that Republican politicians are missing: to point out that the Democratic Party's favored climate strategy, cap and trade, has been a failure internationally. In fact, it was a failure that resulted from trying to take a sound idea (which worked well enough on localized problems such as acid rain) and apply it to a global problem for which it was ill-suited. Of course, to make the most of this opportunity, the GOP politicians would have to be willing to (a) acknowledge that global warming is a problem and (b) present their own solution, in particular a carbon tax. (Of course, the rhetoric of recent years of cap and trade being "cap and tax" has generated public confusion about the distinction.)

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