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