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Cap-and-Trade: The Return of the Safety Valve
by Felix Salmon
and Yves Smith
Oct 17, 2007
Oct 17, 2007
If you want to cut carbon emissions, there are some ways of doing so which actually make money, in net present value terms. Some methods, however, cost money – and many of the most promising emissions-reduction schemes cost a lot of money. Under a cap-and-trade system of carbon credits, the higher the cost of such credits goes, the more that ambitious carbon-reduction schemes become econmically viable. That's the whole point of a system. But the electric utilities, of course, are pretending not to understand:
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