Maybe I haven't been following all of this closely enough, but I was definitely not aware of the magnitude of the Carbon Offset market. This article on Cleantechnica outlines the industry a bit and definitely clarified some things for me, but still that number is incredible to me.
A vast majority of the value comes from the European Union's Emissions Trading Scheme which has already handled $47 Billion in trades in the first half of 2008. It seems to me like basing our entire medical system around band-aids instead of preventative care (which may not be too far from the truth either), but she does point out in the comments that it is always in the best interests of the company to reduce emissions rather than have to buy the offsets...still, I had no idea the market was that large.
What do you all think? Do you want to see the cap and trade system in the US?
Edited by deej - Thu, 31 Jul 2008 20:42:48 GMT