The hole in Kyoto's 'cap'

Why taxes and the cost of consumer goods go up and carbon emissions don't come down

Last week we looked at the leaky foundation at the base of the Kyoto accord, known as carbon credits. Today, let's examine the holes in its roof -- its so-called "cap" on carbon emissions. In reality, there is no "cap", either in the Kyoto accord or the "cap-and-trade" markets and carbon taxes it has spawned.

Why? Because they weren't designed to do so.

What will they do? Raise taxes and our cost of living through higher consumer prices, with Big Business and Big Government dividing up the cash between them like crooks after a bank job...

[money & power]

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