ToTus is offline for some odd reason.
What prevents other countries from bidding up the price of a carbon credit, to the point that we cannot afford our own energy, and our industries cannot compete with imported manufactured goods?
What if China simultaneously dumps all of their treasury notes and trades them for American carbon credits? What then?
ToTus is offline for some odd reason.
That’s a good question about carbon credits. I don’t know the details, but I thought the carbon credit market was supposed to work like the stock market. Companies who meet and exceed the carbon limits in their operations can then sell their unused credits to others who exceed the carbon limits. And the market is supposed to set the price for these credits. These credits sound to me like a tax or fee for emitting too much carbon. If those who emit too much have to buy a credit for same on the open market, you’re right, the market will determine the price of the credit. I think it’s quite possible that China or others outside America will enter our carbon credit market and treat them as an investment. And their being there will affect the supply and demand for the credits, and thus the price.
Let’s hope that the Senate will save us from all this nonsense and fail to pass this global warming bill.