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Carbon trading may be the new sub-prime, says energy boss http://apocadocs.com/s.pl?1233321244
"We like certainty about a carbon price," he said. "[But] the carbon price has to become simple and not become a new type of sub-prime tool which will be diverted from what is its initial purpose: to encourage real investment in real low-carbon technology."
Green campaigners have long been critical of the way the emissions trading scheme was set up, but it is unusual for a leading industry figure to cast doubt on it, as power companies lobbied hard for a market mechanism to deal with global warming.
"We are at the tipping point where we ... should wonder if we have in place the right balance between government policy, regulator responsibility and the market mechanism which will deliver the carbon price," said de Rivaz.
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[Read more stories about:
carbon sinks, corporate malfeasance]
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Your Quips:
Mathminor says: "I've been suspicious of "carbon trading" for awhile -- seems guaranteed to become corrupt."
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'Doc Jim says:
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When industry lobbies hard for a market mechanism to fix a problem, follow the money.
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