Cleaning Up Carbon Cap & Trade Fraud – Good Luck With That

In “Brussels targets carbon trading fraud ahead of Copenhagen Summit”, the Guardian reports on attempts to clean up fraud in the European Carbon Cap & Trade Market.

Good luck to them with that.

As I summarized in “The Problems With Cap and Trade”, the fundamental challenge they face is described very well by William Buiter –  the whole system is designed to engender fraud and corruption on behalf of the politically connected. Buiter is a professor of European Political Economy at the London School of Economics and Political Science and former chief economist of the European Bank for Reconstruction and Development.

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