| Sourced From It’s Getting Hot In Here |
Hot on the heels of Obamas statements that a carbon market similar to the European Unions greenhouse gas regulatory scheme would be centerpiece to his climate policy, Friends of the Earth has released a great overview of the proposals on the table.
They warn that the lynchpin of US and global climate policy seriously risks replicating the boom and bust, experimental marketplace created in the last 10 years for mortgages and other debts. Like those markets, carbon trading is increasingly sparking fraud and wreaking havoc on prices. Moreover, it risks superseding, distracting from and even discrediting more legitimate efforts.
Some excerpts – detailing the emergence of
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