I like this anti-cap and trade quote:
Cap and trade is the worst choice for pricing carbon. It is proven ineffective even in its best incarnations, is influence-prone, creates a huge, risky, game-able carbon market that is extremely complex, subject to manipulations, whose likely bubble-bust will overshadow the mortgage or the dot com bubble.
I would like to intelligently counter these criticisms of cap and trade but I fear that there is more than an element of truth in this quote. What the alternative should be is a subject for another cut and paste post ;-)
Here is the press release with the good bits in bold.
Climate SOS: Senate Bill "Condemns us to Climate Chaos"
Climate SOS, a coalition of scientists and activists who support science- and environmental justice-based climate legislation, today characterized the draft Senate bill, called the “Clean Energy Jobs and American Power Act” which was introduced on Wednesday by Senators John Kerry (D-Mass.) and Barbara Boxer (D-Calif.) as an “irresponsible non-solution.”
They maintain that any bill that embraces cap and trade, offsets, outrageously inadequate emission reduction targets, and counter-solutions such as biomass burning, nuclear power and more coal fired power plants (under the guise of partial carbon capture technology that is as yet unavailable) will fail to meet its stated goal of forestalling catastrophic climate change.
Friends of the Earth, Greenpeace, the Citizens Climate Lobby, Center for Biological Diversity and others have also rejected the Senate bill for its lack of grounding in science and its failure to consider global environmental justice concerns.
Maggie Zhou, a Climate SOS organizer, and project coordinator with the Massachusetts Coalition for Healthy Communities, said “Cap and trade is the worst choice for pricing carbon. It is proven ineffective even in its best incarnations, is influence-prone, creates a huge, risky, game-able carbon market that is extremely complex, subject to manipulations, whose likely bubble-bust will overshadow the mortgage or the dot com bubble. While cap and trade is the scheme of choice for polluters and Wall Street executives, a revenue-neutral carbon tax-and-dividend program would be much more straightforward, equitable, less prone to fraud and gaming, and would compensate people, not corporations, for the costs of pricing carbon.” She added “The US forced cap and trade into the Kyoto protocol, which we didn’t even ratify. It’s time to correct that mistake, and lead the world in implementing a much more sensible system that could simplify global efforts on fighting climate change, that has a real chance of success.”
"It is no consolation that the Senate sets superficially more ambitious goals for emission reductions than the House," said BiofuelWatch co-director and Climate SOS spokesperson Rachel Smolker. "While the House bill required landfill gas to be captured, the Senate bill allows those projects to be used as offsets to allow additional emissions from smokestacks. This slight of hand allows politicians to claim ‘stronger targets’ when in fact it’s all number-smithing. Dire predictions from climate scientists make it clear that even if all the offset provisions are stripped away, the stated targets in both the Senate and the House bills (which are at most a few percentage point cuts below 1990 emissions by 2020) are still pathetically trivial, unable to even approach a greenhouse gas stabilization at 450 parts-per-million (ppm), while it is becoming clear that the safe level is no more than 350 ppm, way below what’s already in the air today (387 ppm). In introducing an ineffective legislation, the senators send a poor message to Copenhagen and condemn us to climate chaos."
The Senate bill is modeled upon the American Clean Energy and Security Act (ACESA), passed by the House of Representatives late June. In the past month, members of climate SOS, lead by Duff Badgley, founder of One Earth Climate Action Group, met with senate staffers in North Dakota, Indiana, Ohio, and Arkansas in an effort to rally opposition to the false climate bill on environmental grounds. "Voting against such a poor bill would in fact be the environmentally responsible choice”, said Badgley. Last week, the coalition also joined forces with activists from Rising Tide North America and many climate justice groups in actions from east to west coast, exposing the polluter-protection nature of the “landmark climate legislation”. Their voices were heard inside and outside the police blockade of the UN climate summit in NYC, at the Danish environment minister’s lecture that urged US to pass this false climate bill, and outside offices of big corporate green groups such as NRDC, Environmental Defense, and Nature Conservancy.