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>You're not allowed to question climate change like this on HN. What's there to question? The carbon credits markets that are being implemented definitely won'
by JacobThreeThree 5y ago
>You're not allowed to question climate change like this on HN.
What's there to question? The carbon credits markets that are being implemented definitely won't be manipulated by Wall Street like the commodities markets are.
Nothing at all could go wrong with financializing periodic elements and allowing entities like Goldman Sachs to create carbon credits out of thin air.
- Minor49er 5y agoToday's carbon credits are yesterday's church indulgences
- ben_w 5y agoOr speeding tickets and parking fines.
- jandrese 5y agoCarbon credits are nonsense because there is no large scale atmospheric carbon removal industry, so you are trying to run a market using only a supply curve with no demand curve. There is no way to set the price so the market doesn't work, it ends up being a tax that doesn't even directly contribute to the goal of removing the carbon emitted by industry. For carbon markets to work properly there would need to be industrial processes that pull CO2 out of the atmosphere at a price per ton. Companies would then pay those companies to remove the CO2 they release at that price point. Multiple companies could compete to be the most efficient at removing CO2 and taking the largest share of the market. But it has been 30 years now and we still don't have a supply side to the market beyond some penny ante tree planting and research projects.
- adrianN 5y agoUm, no? The government can put a cap on the amount of carbon credits available on the market. There is demand to emit carbon, so a price for these credits exists independent of the existence of carbon removal industries. The problem currently is that the governments don't put (realistic) caps on the number of credits, so they are much too cheap.