Why Cap and Trade Sucks

Because at the end of the day, it's a tax, and it's not just a tax, it's a hard to regulate and administrate one, which means that folks like Goldman Sachs are going to look for ways to game the market to line their own pockets, and the money that they make will come out of taxpayer's, or consumer's pockets.

Case in point, Goldman Sachs, "Recently bought pieces of two carbon-offset companies, in the latest sign of investment banks’ interest in the area."

The idea that somehow or other allowing mini-Wall Streets will create innovation and make things better is simply wrong. Look at what they did to home mortgages.

What this is really about is Ivy League alumni politicians and bureaucrats deciding on policies based on the best interests of their Ivy League alumni friends on Wall Street.

It is senseless and destructive tribalism, and no different than Sunni-Shia in Iraq, or Hutu-Tutsi in Rwanda.