A very interesting exposé into the corporatocracy. Cap & trade? Ignore and profit more like.
To sum up, basically it explains that the cap and trade system is just the creation of another market for Wall Street to profit from.
The theory is interesting. Every year the govt creates pollution permits and that number declines every year. Innovative companies switch to green energy and therefore have surplus pollution credits. These become more valuable over time as the number of the declines every year. So the innovative companies can sell them on to less innovative and still polluting companies.
The video points out that the people who invented cap and trade (Wall St advisors) have come up with an idea that benefits them, but won't reduce carbon emissions in the long run and is highly vulnerable to corruption, as anything to do with Wall St is. It's essentially handing the future of the planet over to the profit-driven marketplace.
It's a lousy solution.
The presenter of the video proposes alternatives like: Solid Caps (non tradable), strong laws, citizen action and carbon fees.
