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Argument: Emissions trading incentivizes finding best way to cut emissions

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Supporting quotations

Bill Chameides, Chief Scientist at Environmental Defense. "Cap-and-trade: more effective than a carbon tax". 12 Feb. 2007 - "A carbon tax is a bad idea. First, most pundits see the chances of Congress passing a new tax as somewhere between zero and nil. But let's say it did. Then Congress would have a whole new pot of subsidy money to pass out to industry. Would you trust them to give it the right companies?...Subsidizing one or two targeted technologies with a carbon tax would discourage investment in others that may turn out to be more effective. Which technologies should receive these tax dollars? No one has a crystal ball that can determine for sure which will turn out to be most useful. History has shown that the marketplace does a better job of developing new technologies, and a tax takes money out of the marketplace. The solution is cap-and-trade. A cap-and-trade strategy provides the incentive for all segments of the economy to compete to discover the best ways to cut emissions."

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