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Virtually
all allowances were handed out for free under the wildly successful
sulfur dioxide trading program in the U.S.
—Nathaniel
Keohane,
Director
of Economic Policy and Analysis,
Environmental
Defense Fund, 2008
Most economists, from left to right, agree that a carbon
tax is best. But cap and trade still dominates political discussion.
The public want their emission reductions certain and their taxes
hidden, or so I’ve heard. Understand this saying, and you will
know the secret of cap and trade.
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