Buying High, Selling Low
Remember emissions trading? Six years ago, it was all the rage, a new way to reduce pollution that reconciled the seemingly intractable forces of market capitalism and environmental protection. When Congress amended the Clean Air Act in 1990, politicians, some environmentalists, and many an industry executive, proposed market incentives as a way of curbing sulfur dioxide (SO2) emissions, instead of the traditional (and here’s that bad word again) regulatory approach.



