Cap and trade is dead - and that is a good thing. It is time to move on and embrace a bold new approach in the fight against climate change.
Cap and trade has died. Last week, Democrats pulled the plug on an ill-fated climate and energy bill. The climate policy paradigm that reigned supreme for over a decade has finally collapsed under its own weight. And - believe it or not - that is a good thing for us all.
Cap and trade was structurally flawed from the outset. From Kyoto to Copenhagen, it left a trail of failed climate conferences, false promises and stillborn bills in its wake.
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