Remember carbon trading, the new ‘market-friendly’ approach to environmental regulation that was going to save the planet and earn money for traders?
From the Wall Street Journal:
IntercontinentalExchange Inc. told traders Friday that it would shut down its U.S. emissions derivatives platform, a year after acquiring its parent only to suffer sparse trading as the prospects of a federal carbon-reduction plan remain dim.
How much foundation money, how much political organizing, how much effort went into this epochal policy fail?
Unfortunately, greens show few signs of having learned from any of this. Chances are, the next wave of green activism will be as poorly conceptualized, poorly led and as ineffective as the last.
Too bad. The environment could use some help.