Wednesday, July 15, 2009

Here's an idea: Let Wall Street manage the biosphere.

NOT!

Carbon cap-and-trade is complicated... kind of like credit default swaps, and structured investment vehicles. It has been tried for years in the EU and there is a voluntary-cap exchange in the US. Guess what? NO PROGRESS. Twenty years from now we will be bailing out Goldman Sachs again when the carbon-market bubble bursts. Save this post and check back.

If you want to mitigate carbon dioxide emissions, do the following: join the movement for free public transit. Don't wait for national governments, the fossil-fuel industry has made sure to control them. But they can't control every municipality. Your town can implement free public transit for 60 basis points of tax. The benefits are immediate and you will get that money back many times over.

Listen to Elizabeth Warren on PublicRadio

see also Michael K. Dorsey in the LATimes

2 comments:

Anonymous said...

Free public transit instead of cap-and-trade. It's such an easy idea. Where's the thought process been on that? Oh, yeah...they think "free transit" means "crime", and they don't ride the bus.

fpteditors said...

Here is another possibility:
"It is difficult to get a man to understand something when his salary depends upon his not understanding it." -- [can't remember who first said it]