Today’s WTF moment sponsored by Rep. Peter DeFazio (D-Ore.), who writes in the Oregonian that lawmakers should abandon cap-and-trade. He says:
Despite these obvious problems, federal and state lawmakers are poised to move forward with a cap-and-trade system. I’m working in Washington to oppose this proposal and to find an alternative. One option that needs further exploration is to establish a emissions cap and to direct polluters to either reduce emissions or to purchase certified offsets (reductions from other entities) to meet emission targets.
But given the devastating impact of past deregulation on U.S. energy and financial markets, I have serious concerns about using a “market-based approach” to solve serious problems. My colleagues in Congress, and Oregon legislators, would be wise to do their homework on a cap-and-trade system before moving forward with more deregulation.
So, instead of a cap-and-trade system he wants … a cap, and emissions credits, that can be traded. Huh.