The Story of Cap and Trade

The v. impressive Annie Leonard, who created the brilliant Story of Stuff, gives a great 10min explanation of why the current Cap & Trade systems are inherently flawed.

The great advantage of Cap & Trade is, of course, that it works with the current system and is therefore infinitely more practical as a solution that has a cat's chance in hell of being implemented in time.

The big problem with Cap & Trade, even if the principle is sound, is that the devil, like Leonard says, is in the detail. And if you dig into the details, it just doesn't make sense. (For instance, don't get me started on the ludicrous practice of giving away rather than auctioning permits to pollute in the first place).

The current C&T system is a depressing example of the extent to which lobbying from industry Special Interest Groups runs politics. That's the real issue behind the problems with this legislation that Leonard analyses.

[Spotted on Brain Pickings]

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