Stephen writes: >Or is the Canada plan predicated on the assumption that >nobody else is going to try the same thing, since if everybody wants to >be a net buyer the price of a credit could be expected to head for the moon?
You sort of answer your own question. I can only add that the current situation is that one can dump as much pollution into the air as is possible without cost. With the cap and trade, there is now a cost. Market economics will (eventually) force a curbing of emissions. It would be faster to ban emmission like what was done with CFC's, but there is no political will to do this. Another effect it has is to encourage countries in places like South America to stop cutting down the rain forests; big sinks of CO2 suddenly become revenue streams. These folks seem a good source for more info, http://www.ieta.org As you say, without American ( and Chinese ) participation, the net effect will be marginal. It's a start, though. BTW, if you've been reading the news, the Chinese aren't only rioting over Japan. http://www.nytimes.com/2005/04/13/international/asia/13cnd-riot.html In fact, it throws the whole "rioting over Japan" thing into a new light, doesn't it??? Kind of like how we do politics here in the US. Wave the magic wand, and watch the rabbit disappear. K.
