Here is a video from Friends of the Earth, in which analyst Michelle Chan talks sense about cap and bend over.
A green outfit talking sense about something, I had to sit down for a moment too.
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(h/t The Captain, who has great analysis)
Of course, the entire idea of ‘carbon trading’ is still a huge scam wherein the government will sell indulgences to business, but at least the FOE folks are prepared to talk about some of the pitfalls, and for that I give them credit.