In cap-and-trade, businesses can purchase the right to pollute from other companies that reduce their emissions more than they need to. (Photo courtesy of the US EPA)
Congress is considering restricting
carbon emissions causing climate
change with a cap-and-trade scheme.
But, recent polls show only a handful
of people have heard of cap-and-trade.
Even fewer understand what it is.
Lester Graham reports cap-and-trade
is not new:
Transcript
Congress is considering restricting
carbon emissions causing climate
change with a cap-and-trade scheme.
But, recent polls show only a handful
of people have heard of cap-and-trade.
Even fewer understand what it is.
Lester Graham reports cap-and-trade
is not new:
We’ve been using the market-based tool to reduce other pollution.
Frank O’Donnell is with the environmental group Clean Air Watch. He says ‘remember acid rain?’ The government ‘capped’ the pollutants causing acid rain. And then came the ‘trade’ part.
“Sources can either reduce their emissions further or purchase the right to pollute from other companies that reduce their emissions more than they need to.”
O’Donnell says that cap-and-trade was cheaper than anybody predicted, and it reduced acid rain. But it didn’t eliminate it.
“And the reason is that the cap-and-trade target was essentially a politically-driven target. It was not one based fully on science.”
In fact, the US EPA is now proposing cutting acid rain pollutants more.
O’Donnell thinks a cap-and-trade scheme for carbon emmissions could be far more susceptible to political maneuvering.
For The Environment Report, I’m Lester Graham.