Making Sense of "Cap and Trade"

As the Capitol Hill debate on "cap and trade" global warming legislation continues, always keep in mind that not all caps are the same. Loopholes and poor structure can make a cap ineffective.

Here, we've talked a little more about possible loopholes than the overall structure of a cap-and-trade program. But over at Gristmill, Tom Athanasiou sums up the different structures and where the pitfalls and potential benefits are.

A must-read for anyone trying to follow the overall debate.

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