Kay on the CET
9th 2006f May, 2006, PeterBusiness economist John Kay, who writes for the Financial Times, this week discusses the problems of the European carbon emissions trading market. He argues that any engineered marketplace, such electricity markets and the European CET, are bedevilled by:
lawyers seeking to define away every possible contingency,
lobbyists seeking to manipulate the rules in their clients’ favour, [...]
