American Thinker

July 28, 2010

Cap-and-Trade’s Market Failure

By Joseph Bast

Cap and trade died even before Congress shelved legislation…for now. News of the death of cap and trade last month didn’t appear in the obituary section of daily newspapers. Instead, it appeared on page C1 of the July 12 edition of The Wall Street Journal in an article titled “Changes Choke Cap-and-Trade Market.”….

The death of SO2 cap-and-trade in July 2010 should be duly noted by every thoughtful observer. It should signal the defeat of any proposals for CO2 emissions trading. If a CO2 cap-and-trade program were ever enacted in the U.S., its collapse would be spectacular indeed compared to the one that will have foreshadowed it.  ([1] Full Story)