Re: [Pen-l] European carbon market crashing

[Doug Henwood <dhenwood@xxxxxxxxx>]

On Feb 6, 2009, at 10:40 AM, Jim Devine wrote:

> I wonder: does this take into account such things as banning
> mountain-top removal by US coal companies (a good idea)? having
> different pro-environment policies might complicate the idea of
> "international harmonized carbon taxes."

As I recall, no. Nordhaus's point is that if you try to regulate  
quantities, prices become more volatile, and it'd be much better for  
policy and investment planning if carbon prices rose at a steady and  
predictable rate, rather than bouncing all over the place as they do  
under a cap-and-trade system.

Doug
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