Changes

'''"Cap and trade"''' is a quota system designed to regulate [[carbon emissions]] in order to slow global warming.  It has been promoted by the [[Obama Administration]], and passed the House with liberal votes in 2009.   

'''"Cap and trade"''' is a quota system designed to regulate [[greenhouse gases|carbon emissions]] in order to slow global warming.  It has been promoted by the [[Obama Administration]], and passed the House with liberal votes in 2009.   

[[Steven Milloy]] wrote:

[[Steven Milloy]] wrote:

==Enron==

==Enron==

:''Main article:'' [[Enron]]

:''Main article:'' [[Enron]]

Even after the U.S. withdrew from the [[Kyoto protocol]]s, Enron continued to push for a domestic regulatory scheme known as cap-and-trade, whereby the government would set a cap on the total amount of [[greenhous gasesdcarbon dioxide emissions]] allowed in the U.S.  It would distribute permits or allowances to companies affected by the cap giving them the right to emit a certain amount of carbon dioxide. Those allowances could then be traded on a carbon emissions trading exchange.

Even after the U.S. withdrew from the [[Kyoto protocol]]s, Enron continued to push for a domestic regulatory scheme known as cap-and-trade, whereby the government would set a cap on the total amount of [[greenhouse gases|carbon dioxide emissions]] allowed in the U.S.  It would distribute permits or allowances to companies affected by the cap giving them the right to emit a certain amount of carbon dioxide. Those allowances could then be traded on a carbon emissions trading exchange.

Enron executives believed that a cap-and-trade program would put them in a position to dominate the U.S. energy market. Electric utilities, required to reduce emissions of carbon dioxide, would be forced to switch from coal to natural gas as the only practical alternative to electricity production. As a leading trader of natural gas, Enron would be the recipient of a huge financial windfall.

Enron executives believed that a cap-and-trade program would put them in a position to dominate the U.S. energy market. Electric utilities, required to reduce emissions of carbon dioxide, would be forced to switch from coal to natural gas as the only practical alternative to electricity production. As a leading trader of natural gas, Enron would be the recipient of a huge financial windfall.

==Necessity?==

==Necessity?==

The biggest controversy over "cap and trade" is its motivation.  The policy exists as a response to belief in man-made [[global warming]].  By presuming that global warming is caused entirely or mostly by human activity, it would follow that environmental benefits might ensue from regulating human carbon emissions.  This belief has been endorsed by [[Al Gore]], [[Barack Obama]] and [[John McCain]], but many have serious doubts.   

The biggest controversy over "cap and trade" is its motivation.  The policy exists as a response to belief in man-made [[global warming]].  By presuming that global warming is caused entirely or mostly by human activity, it would follow that environmental benefits might ensue from regulating human carbon emissions.  This belief has been endorsed by [[Al Gore]], [[Barack Obama]] and [[John McCain]], but many have serious doubts.