{"id":187281,"date":"2013-04-20T19:56:00","date_gmt":"2013-04-21T00:56:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2013\/04\/20\/why-a-carbon-tax-is-better-than-a-carbon-market-part-3-1415926\/"},"modified":"2013-04-20T19:56:00","modified_gmt":"2013-04-21T00:56:00","slug":"why-a-carbon-tax-is-better-than-a-carbon-market-part-3-1415926","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2013\/04\/20\/why-a-carbon-tax-is-better-than-a-carbon-market-part-3-1415926\/","title":{"rendered":"Why a Carbon Tax is Better than a Carbon Market, Part 3.1415926"},"content":{"rendered":"<p>The EU which has the largest and most ambitious carbon market world, has <a href=\"http:\/\/news.nationalgeographic.com\/news\/energy\/2013\/04\/130418-europe-carbon-market-crisis\/\">effectively shut it down by refusing to subsidize it<\/a>:<\/p>\n<blockquote><p><span style=\"color: blue;\">The European Parliament this week voted 334-315 (with 60 abstentions) against a controversial &#8220;back-loading&#8221; plan that aimed to boost the flagging price of carbon, which since 2008 has fallen from about 31 euros per tonne to about 4 euros (about $5.20). Since the vote, the price has fallen even farther, to 2.80 euros. The collapsing market is hardly the kind of firm foundation needed for building a clean-energy economy. <\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">&#8220;Now, the market is dead, as far as I can see,&#8221; said Steffen B\u00f6hm, director of the Essex Sustainability Institute at Britain&#8217;s Essex Business School.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">What will be the aftermath of the ETS collapse? Here&#8217;s a quick primer on what happened, and what it could mean elsewhere, particularly in California, which inaugurated a new carbon market at the start of this year. (Related: &#8220;California Tackles Climate Change, But Will Others Follow?&#8221;<\/span><\/p><\/blockquote>\n<p>The &#8220;backloading&#8221; is an indirect subsidy which would pull carbon credits off of the market to raise prices.<\/p>\n<p>Cap and trade does not work without extensive government intervention, it costs more to administer, and it requires extensive and ongoing government subsidies.<\/p>\n<p>Tell me again why cap and trade is better than a carbon tax again?<\/p>\n<p>The only thing that I can figure out is tribalism:&nbsp; It allows politicians to create yet another mechanism for them to throw profits toward their classmates from their &#8220;elite&#8221; schools who are working at Wall Street or the City of London.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The EU which has the largest and most ambitious carbon market world, has effectively shut it down by refusing to subsidize it: The European Parliament this week voted 334-315 (with 60 abstentions) against a controversial &#8220;back-loading&#8221; plan that aimed to boost the flagging price of carbon, which since 2008 has fallen from about 31 euros &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1010,970,1135,984,1020],"tags":[],"class_list":["post-187281","post","type-post","status-publish","format-standard","hentry","category-bureaucracy","category-corruption","category-energy","category-europe","category-legislation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/187281"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=187281"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/187281\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=187281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=187281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=187281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}