Cap And Trade, RIP?

A few years ago, markets for trading pollution rights were lauded by U.S. politicians of all political persuasions. No longer.

The future of climate policy panel at Fortune Brainstorm Green. Credit: Russ Curtis

FORTUNE -- The idea of setting a firm limit on carbon dioxide emissions but letting the market decide who should do the allowable amount of polluting is an environmental policy that seems to have a little something for everyone.  Lefties like the hard limits. Righties like the flexible markets, or at least they used to -- and that change has thrown the future of cap-and-trade policies in doubt.

"Its going to be hard to resurrect cap-and-trade.  Even though it was invented by Republicans, it has been demonized by Republicans," said Jim Rogers, chief executive of Duke Energy (DUK).  Rogers, unlike many of his fellow energy CEOs, has long taken an active role in pushing for tighter environmental rules. Speaking at a panel at Fortune's Brainstorm Green conference, Rogers said doesn't expect any strong climate change legislation out of the current U.S. Congress, or the next one, and probably even the one after that.

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Posted in: Connie Hedegaard, Duke Energy, Emissions trading, environment, European Commissioner for Climate Action, Jim Rogers, Michael Shellenberger, Republican Party (United States)

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