China Caps Carbon

[Valin]

Via Meadia:

6/18/13

 

China has just launched its first cap-and-trade experiment in Shenzhen, one of seven cities singled out for pollution cuts by 2014. The policy starts today in Shenzhen, and will then be rolled out in Beijing, Shanghai, Tianjin, Chongqing and the provinces of Hubei and Guangdong. If the program is successful in these areas, China plans to apply this policy countrywide and hopes to see a major drop in emissions. The BBC News reports:

 

(Snip)

 

Its understandable that China wants to cut its carbon output. The more China grows, the more it needs foreign oiland needs American naval power to keep the oil flowing and the tankers moving. If China can lower its dependence on fossil fuels, be it through cap and trade or some other means, it will also increase its independence from the US, something greatly desired by Chinese leaders.

 

(Snip)

 

If cap-and-trade policy ran into these problems in the West, where transparency is high, its likely to fare worse in China. Local and regional corruption is rampant in China, and massive programs like this will offer plenty of opportunities for graft by cunning local politicians.

 

Whatever happens, Chinas move doesnt vindicate propositions for a global carbon treaty. China is acting in its own perceived best interest,....(Snip)

[NCTexan]

Bijing six years ago was the worst air polution that I ever experienced any time, anywhere.

 

Maybe they can buy some Al Gore carbon credits and fix everything.