Cap and trade or emissions trading schemes can be confusing. They have been touted as the chief market-based solution for limiting greenhouse gas emissions, preserving valuable natural resources like forests, while making money for rich and poor countries alike. The far right and climate change skeptics hate them for obvious – and sometimes less obvious – reasons: they hate government meddling in the free market and regulating business and industry to the point that they believe in a vast ‘socialist’ conspiracy involving all prominent climate scientists. Or is it just a simple question of which class and which industries will…
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