
The Story of Cap & Trade and why it does not work - jbrun
http://www.youtube.com/watch?v=pA6FSy6EKrM&feature=player_embedded#
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d4ft
Wow, just wow. Talk about slanted reporting. First, let me just quote one line
from the video. "When it comes to any kind of financial scam, like sub-prime
mortgages..." Uh, what? Sub-prime mortgages aren't a scam at all. Were they
risky? Yes. Were they a scam or illegal? No. Were they securitized in a manner
that distorted their value? Maybe. That has nothing to do with the underlying
mortgage itself, and really is more reliant on interactions between banks,
credit rating agencies, and shadow bank counterparties. This video loses all
credibility to me at that point. The cap and trade is not a financial "scam."
Yes, there are incentives that are given out to get people to sign on to the
system. Yes, the incentives suck. Yes, it would be great if there would be a
better way to get all countries to sign on. A carbon tax is one option, but
there too we will need to add a ridiculous list of compromises to get
countries like china or india to sign on. In absence of a better alternative,
the cap and trade is a start. Details will need to be worked out, and some
incentives may fall by the way side. The important thing however, is to do
SOMETHING, and it is my opinion that this is the best option available at this
time.

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sleepingbot
I don't want to sound cynical, but what doesn't work is the producction of oil
via using tar sands and polluting most of Canada's MidWest.

