Carbon Tax Versus Cap-and-Trade Approaches to Global Warming – Part 2

As you may recall from Part 1 of this article, in the cap-and-trade system many companies might get away with carbon emissions that are below the “certified limits”. And that’s a crucial point since cap-and-trade policy might bog down in implementation nightmares. Who is going to determine the “caps” on an industry by industry, and company by company basis? Wouldn’t that require a new immense federal bureaucracy of its own?

More: continued here