Wonder why there’s such a rush, by relatively few, to push “cap and trade” legislation forward?
This Marketwatch article, timed with the Copenhagen meetings with week, does an excellent job identifying the dynamics — this potential $2 trillion new asset class has been “stalled” by lack of action in the US, and therefore carbon prices in the current $118 billion carbon market are trading sideways or down (Goldman Sachs and Al Gore, Inc. are not happy…)
Should one infer that the real pressure to pass “cap and trade” is from commodity players looking for a new asset class to exploit? (at consumers’ expense, of course.) It’s hard to make the case for a scientific imperative anymore, given the substantive, well-documented allegations of fraud in the theory of anthropogenic global warming.
Follow the money, unfortunately, is always good advice…