We know we’re in the hole, environmentally speaking. And we know we’ve got to start digging ourselves out. But which way do we best attack the major problem of CO2 emissions? Do we use a Cap and Trade system or a Carbon Tax? What experiences can we pull from to inform our opinions?
Lucky for us, Europe already as a Cap and Trade system. And apparently, it’s not working as planned.
The approach has been a bureaucratic morass with a host of unexpected and costly side effects and a much smaller effect on carbon emissions than planned.
The Guardian said the cap and trade is:
“Manifestly not working as planned.”
But, the Cap and Trade is politically easier for our Politicians to stomach. And that is too bad. If a Carbon Tax is more likely to affect change than a Cap and Trade is, then we should go with the Carbon Tax. Of course, we all know that Washington doesn’t work that way.