You obviously do not understand the fundamental concept behind a CAP and TRADE emissions trading scheme. The emmissions (or pollution if you wish) are CAPPED at a certain level beyond which we cannot go. This level is reduced over time i.e. the total amount of emissions (or pollution) allowed to be emitted per annum is REDUCED. If you need to emit more pollution than your CAP then you must PAY extra by buying carbon credits.
The above is all in an ideal world. Unfortunately the current ETS proposal here in Australia gives the big polluters lots of concessions and free credits, but fundamentally a cap and trade system will allow you to reduce pollution if it is managed correctly.
To say neither China nor India is interested in such schemes is an exaggeration. They are saying, quite rightly, that most of the carbon pollution now in the atmosphere was created by the developed nations so these nations should be doing more to reduce their emissions. I agree that ultimately all nations must be involved. We await to see what happens at Copenhagen at the end of the year.
COZ Price at posting:
28.0¢ Sentiment: LT Buy Disclosure: Not Held
