In response to a recent article in the New York Times, Robert Stavins, an expert in environmental economics from Harvard University, looks at how cap-and-trade became a lightning rod for any and all opposition to taking action on climate change in the U.S.
Stavins argues:
"Although cap-and-trade has fallen dramatically in political favor in Washington as the U.S. answer to climate change, this approach to reducing carbon dioxide (CO2) emissions is by no means “dead.”
He adds that, "In general, any climate policy approach — if it was meaningful in its objectives had any chance of being enacted — would have become the prime target of political skepticism and scorn. This has been the fate of cap-and-trade over the past nine months."
