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Solve 4 Biggies

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1 - Global warming

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   4 - Pollution from non-
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Go RGGI - carbon trading

This entry was posted on 9/24/2008 9:32 PM and is filed under Energy Policy,Global Warming.

I don't think it will be effective (it hasn't been in Europe), but I hope it is at least somewhat helpful. We're running out of time.

I'm referring to the Regional Greenhouse Gas Initiative (RGGI) - ten northeastern states will price and auction the right to emit carbon dioxide. It's notable that it's the first mandatory cap and trade program in the country.

Here's a July 2008 CommodityOnline.com article announcing the plan - Nymex to launch RGGI for carbon trading

Secondly, here's a reasonably balanced overview at ClimateProgress.org from a few days ago; it lists potential pitfalls and positive aspects of RGGI's set-up - Have the RGGI states repeated the mistakes of the European carbon trading system?

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From previous entries you know that I'm not a fan of cap and trade. It's overly complex, it has not worked well in Europe, and it creates a huge market that we all will be paying for. Cap and trade is mostly political cover for elected representatives to say they are doing something. Is it better than doing nothing? I don't think so - it just delays real action.

However, as I said at the start of this entry, I hope it's at least a little helpful. We're running out of time......