Cap and Corruption: The Fraud behind Carbon Reduction Targets (Part 7 in a 10-part series)
Nicolas Loris /
If former presidential candidate Ralph Nader, the greenest of all the greens, the man who played an integral role in starting the Environmental Protection Agency and passing the Clean Air and Clean Water Acts, opposes cap and trade, it’s probably not a good idea. Here’s what Nader told the New York Times concerning cap and trade:
I mean, it’s not going to work. It’s too complex. It’s too easily manipulated politically. Right now, they’re having a battle over whether they can even auction the credits off for money. The industry doesn’t want auctions for money. So, they’re already having a battle right from the takeoff. I have to call Markey and see why did he ever buy into that.”
The best case study is Europe. In essence, companies are able to meet emission targets by investing in clean energy development in other countries. The large problem is a number of these clean energy projects have been in the works for years or are completed already. The result is no cut in emissions.