The climate change/carbon cap bill that cleared the House Energy Committee looks likes the most expensive thing to hit the economy since the financial crisis began,”...
“First off, the stated objective of cutting carbon emissions by 83% by 2050 will go down in history as outrageous — To meet the Waxman-Markey bill’s goals would mean we have to go back to a carbon footprint about as big as the Pilgrims’ at Plymouth Rock circa 1620."
“...who cares what I think? As the great Jeffers wrote, “Be angry at the sun for setting/ If these things anger you.” This is the way the world works. We have to play the ball where it is. And that means we have to figure out who wins and who loses.
“And as if the government doesn’t help financial firms enough, it is going to hand them a nice tomato in trading carbon credits. The head of Morgan Stanley’s U.S. emission trading desk said: “Carbon, while relatively small, is a critical piece of our commodities offering.” So some financial firms with trading desks in carbon get a nice little payday.
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