Yet more hot air emanating from the EU, as they (who are they) insist that the US must now join forces to save the planet from global warming.
By adopting carbon trading (a mechanism firmly rejected by the Bush Administration but likely to be embraced by the Obama Administration). As I have stated before, carbon trading is a bureaucratic crock, an excuse to let the rich nations continue business as usual at the expense of poorer nations. It could also be thought of as bribery and corruption, with the corruption being firmly in the control of the bureaucrats. A license to make money with no material gain for society.
We don't need carbon trading. It's a waste of time and money. Built on an unproven premise (anthropogenic global warming) to satisfy politicians needing to do something, the concept is hopelessly flawed. Essentially, the idea is that Peter will pay Paul not to generate carbon so that he can continue to do so. Paul, by the way, is likely to be a poor nation that desperately needs to industrialize to feed its population. Peter, on the other hand, is a rich old world nation saddled with traditional business practices and that refuses to modernize and streamline its business.
China and India, of course, can see no benefit from carbon trading. For as long as they remain outside the trading circle the entire concept means less than nothing. Nada. Zilch.