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Tree Hugger
The article was orginally published at: Bad News for Cap and Trade Foes: Europe’s Emissions Trading System WORKS
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It’s one of the most common lines you hear from cap and trade opponents: “Well, just look at Europe.” You see, the European Union Emissions Trading System was long thought to be a spectacular failure. It initially allowed utility companies to reap massive profits, since they were given their permits for free and passed the cost of carbon onto consumers–nearly the opposite of what was supposed to happen. Additionally, for a long time, many thought ETS would be sorely inadequate to get …Read the full story on TreeHugger
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