The Chilling Effect | cooling heated rhetoric on global warming » Carbon Tax Vs. Carbon Caps

...Thought we’d pass along this statement on Capitol Hill today from Sonecon co-founder and former commerce undersecretary Dr. Robert J. Shapiro:

A cap-and-trade system may appear to be sensible climate policy; but in practice, it would be extremely hard to administer, easy to evade, ripe for corruption, and create more volatility in energy prices. It also presents the same opportunities for reckless behavior by Wall Street that ushered in the current financial crisis.