Murky world of carbon trading awaits an unsuspecting B.C.

Here.

Some details on carbon trading's failure in Europe are here.

Excerpt:

...the core issue really is that it hasn't reduced emissions. So, in the first year of it working, for example in the UK, emissions covered by the emissions trading scheme have actually gone up by 3.6 percent. So I mean that's the core of why it's failing and if you look at the reasons behind that, well, there are some reasons which are specific to the European scheme. But also over the last couple of years of experience in Europe it's become apparent that there are actually some pretty fundamental difficulties about running a cap and trade system. And I'm slightly concerned that a lot of the people who are advocates of cap and trade in the U.S. don't really realize how difficult it is to make these things work.