‘Cap and Trade’ For CO2 Needs a Stake through the Heart

From American Thinker:

Cap and trade (C&T) is in the news again: Global Carbon Market trading (practically all EU) climbed to $176 billion in 2011 according to the The World Bank, which has just released its annual State and Trends of The Carbon Market in 2012.  That makes it about the same value as total global wheat production — which supplies about 20% of the calories consumed by the 7 billion people on planet Earth.

Meanwhile in Sacramento, CA, passage of Assembly Bill 1532 on May 29, signals a shift from regulation of air pollution to an outright war on business and industry in California.  And in Los Angeles, the Cal Air Resources Board (CARB) is moving to implement a state-wide C&T scheme by Jan 2013 that will be like a carbon tax, yielding annual revenues of about a billion through the auctioning of emission permits.

(Read Full Article)