it's a scam. it's not a way to reduce emissions. it's a way to convert emissions into an abstraction that can be inflated and deflated into profits for investors. in a sense, it's the sacred cow that industry has been looking for since the beginning of industrialization: how can we turn waste products into profits?

the basic premise is that the solution to capitalism is more capitalism.

people are going to look back at cap & trade as the defining symptom of an utterly insane society.