Kevin is skeptical that we need to worry about the market in carbon derivatives that will be created by cap and trade, observing that most of these instruments will be relatively simple contracts like futures, and that “Waxman-Markey has some pretty good language regulating them in any case.” Well, Waxman-Markey had some good language regulating carbon and other energy derivatives. Most of it was authored by Rep. Bart Stupak of Michigan, who wanted to eliminate over the counter (OTC), or unregulated, derivatives altogether and force trading onto exchanges.
Read the original here:
It’s 3 a.m. do you know where your climate bill is?
