If power companies have to pay for their CO2 emissions, what will happen to the price of electricity? The answer isn't as obvious as you think. The linkage between costs and prices -- increase the first and you raise in the second -- is predicated on the notion of efficient markets. Yet it would be hard to find a market less efficient and more distorted than the U.S. electric sector, which is responsible for over 40 percent of America's CO2 emissions. If we want to use a price on CO2 to drive changes in energy use, we better start with …
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Sean Casten is president & CEO of Recycled Energy Development, LLC, a company devoted to profitably reducing greenhouse emissions.
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