Dave Roberts of Grist , no other reporting on the environment or anything else like this, in recent memory. Cap and trade is scary though
http://gristmill.grist.org/story/2008/3/19/1103/67062#2
Awesome reporting
And victory over the wing nut think tank right.
But the pragmatic hedge fund traders are waiting in the wings to get their greedy hands on carbon markets. Maybe Immelt and others will heed the warning of this global credit crisis?
The real market, real world, pragmatic policy is direct subsidy diversion. 10 cents per kwh for renwables and conservation diverted from oil, coal, agribizz, and nuclear energy subsidies.
Not more "hedging" to address GHG climate risks with easily scammed C and T.
The caps will be moved according to the political winds up and down, mainly up. The trading will be scammed just as a hedge fund bubble is being built up in ethanol crop growing farmland right now.
How did that "hedging" of mortgage risk work out? Now that the fed is going to buy all the bad loans, pretty good huh? So the biggest capitalists rely on socialism in the end, to bail them out, with corporate welfare.
Just like in the 80s savings and loan crisis, just like the 90s LTCM hedge fund crisis, just like this crisis. BTW, is another bailout of chrysler coming? Or maybe GM or ford? Too big to fail.
Where do we the people get an insurance plan like that? Spend your paycheck buying lottery tickets, if you lose, get the government to pay your expenees.
Yeah, that's the kind of thinking you want to cure the climate crisis. The Henry Hill financial perspective of "Goodfellas". You lose a bet, you go on the street and rob.
