Capping carbon emissions seems like a good way to reduce green house gases. Trading carbon credits seems like a good way to get companies to "pay" a "market value" for polluting the environment. It makes sense that emissions will reduce. And that seems to be a good thing. But, who really profits from creating this carbon trading market? It seems like Wallstreet and in particular Goldman Sachs stand to make BILLIONS. If the governement received the revenue from these trades and this could reduce the TREMENDOUS deficit that has been created, then I could support this approach to reducing emmissions. However, the legislation as proposed seems to create a market that is ripe for abuses and profit taking by Wallstreet (and Goldman Sachs in particular - read the article in July 2009 Rolling Stone Magazine) with the government and the American people loosing out. Can you please comment on where the profits will flow from this carbon trading market? Can you discuss specifically how Wallstreet will be involved and where the profits will go? Can you discuss how abuses of speculation on carbon credits will be avoided? How do you personally stand to gain in all of this or companies that you are affiliated with?
posted 3 years, 6 months ago
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