So far, Mr. Market doesn’t think much of the Copenhagen (agreement? piece of paper? movingforwardville process?)…
Carbon prices fell big time this morning on the Euro cap and trade exchanges.
Gorilla says: “Goingbackwardville is selling at a discount!”
Over in Britain, it’s curtains for the wind turbine industry.
What’s illustrative here is the “green” problem: in a nutshell, alternative energies aren’t economically competitive with bad things like fossil fuels.
The simplest way to address the problem is a big tax on carbon consumption, to get the price of oil, gas, and coal into a neighborhood where wind, solar, and other alternatives are viable.
But that requires political courage, which isn’t found anywhere in the US at the moment. So we’re having yet another go round at cap and trade!
In Scotland, they’re spending 10 million pounds to save a wind turbine factory that employs 100 people.
That means each worker is being paid like they’re a family practice physician in the USA!
Gorilla thinks this makes sense: “We get the banks to offer health insurance and the doctors to work on wind farms, sooner or later we’ll have income inequality licked in this country!”.
