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Posted Wed Jun 11 2008: from MIT:
Carbon emissions trading in Europe: Working well, lessons learned
For the past three years, the European Union has been operating the world's largest emissions trading system and the first system to limit and to trade carbon dioxide emissions. An MIT analysis of this initial "trial" phase finds thatódespite its hasty adoption and somewhat rocky beginningóthe European Union cap-and-trade system has operated well and has had little or no negative impact on the overall EU economy.
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The ApocaDocs say:
Given the dollar-to-euro exchange changes over those three years, I'd say the US has some cap'n'tradin' up to do.

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