In game theory, the Prisoners’ Dilemma refers to a game where two prisoners are being interrogated separately by an official, and where they will both be better off if they either they both confess or else if both deny the accusation.  However, if one confesses and the other denies, then the confessor will be worse off than [...]

Always realists, the editors of London’s Financial Times have come out loudly in favour of strong action by our politicians during 2007 on climate change, to ensure a successor to the Kyoto Treaty is negotiated by 2012, a successor which must include a global cap on carbon emissions.  We find nothing to disagree with in [...]

The EU has announced tough cuts in carbon emissions targets for Phase II of the ETS (2008-2012), particularly for those countries which did not themselves propose sufficiently tough targets, according to this BBC Report.  Countries, such as the UK, who were tougher on their national industries in Phase I of the ETS, have this time escaped [...]

Professor Michael Grubb of Cambridge University, a leading environmental economist, has joined the many calls for new carbon emissions targets if the ETS cap-and-trade scheme is to work, according to this BBC report.  Certainly, the current low price levels of emissions rights indicate that buyers think there will be plenty spare emissions capacity.
“Professor Grubb also [...]

Discount airlines have now become targets for direct-action environmental campaigners, upset at the carbon emissions arising from cheap air-travel.  Yesterday’s Guardian newspaper carried a story about protest action which prevented staff from entering the head-office buiding of EasyGroup, owners of airline Easyjet.  This was accompanied by co-ordinated protests against regional airports and travel agents in Britain.  The [...]