Cap-and-Trade Allows for Business As Usual

The "grandfather of climate change" has decided to boycott next week's climate change summit in Copenhagen—and he even hopes it fails. It might seem like an antithetical position for James Hansen, the director of NASA's Goddard Institute for Space Studies, but his objection is to the cap and trade system being proposed. It's a bold move, but one that will hopefully have an impact because Hansen is quite right about one thing: Cap-and-trade won't work because it doesn't help solve the root problem.

What's Wrong With Cap-and-Trade?

The cap-and-trade approach to managing climate change is based on the principle that each country will set emissions limits (a cap), dolling out permits to industry.

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