I’m pretty sure the recession is hurting cap-and-trade.
The recession occurred because the global market was trading intangible nonexistent commodities, by trading credit and debt. Cap and trade relies on trading carbon “credits,” as a method of trying to get companies and nations to cut down on pollution. However, there is no guarantee that a company will actually stop polluting just because they can use carbon as a commodity for further trading…as long as they have the money to keep up with the financial cost of carbon trading, they can continue to pollute.
The economic recession has made people distrust the financial system further, and I feel that a program that further relies on economic trading is not going to be met positively by the general populace. This coupled with the fact that it’s returning to our problematic method of trading “non-existent commodities” that inspired a collapse in the first place, leads me to believe that cap-and-trade is definitely being hurt by the recession.
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