Argument: Cap-and-trade systems are implemented too slowly
"Carbon tax vs cap-and-trade: which one is more likely to disgust the American public?". Environmental Economics. 6 June 2007: Our fear is that with so many billions at stake, any carbon cap-and-trade program will necessarily be beset by crippling delays, inside-dealing and favoritism run wild. The result will be to disgust and disillusion the American public so that it turns against putting a price on carbon emissions altogether.