Planet Gore on National Review Online
[Marlo Lewis:] Gore’s [NB: and Pew’s] preferred policy, a cap-and-trade scheme, is essentially a carbon cartel. Such schemes set OPEC-like production quotas — in the form of emission allowances or credits — for all fossil fuels rather than just oil. By restricting the supply and raising the price of fossil energy, cap-and-trade creates windfalls for the lucky holders of emission credits. That is why companies with a flair of illegal market manipulation — Enron, American Electric Power, Cinergy, Entergy, and Calpine — have been among the most aggressive lobbyists for the Kyoto Protocol or kindred emission trading schemes. Among the most influential lobbyists for Kyoto-style policy are Wall Street firms that expect to make commissions on the purchase and sale of carbon trading credits.
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