Additionally, implementing the cap and trade policy alone will lead to a rise in prices of almost all goods and services since virtually everything relies on energy. The only way that has been suggested towards solving this problem is implementing parallel policies which will bring down the allowance prices, cut emissions, and save consumers' money by reducing their bills which are affected by energy. However, others argue that everyone should be ready to pay the price of damaging the environment through their actions and the best way to make them pay this is through the strict and sole implementation of the cap and trade system. This means that there is no need to implement parallel policies together with the cap and trade system so that whenever one uses energy that produces greenhouse gases in excess then the related costs are met that individual. Generally, as much as it is advisable to have people responsible for their actions, it is necessary that the best means of solving the already caused problem be found. Thus, the best option is implementing the cap and trade system together with other parallel policies such as involving utilities to produce a higher percentage of electricity from renewable energy sources.
The United States is the only country that is currently struggling with the implementation of the cap and trade policy, this is a big challenge since reduction of carbon emissions is a worldwide goal and meant for the United States alone. This has made many people to suggest that the United States stop struggling with a system that will have a negligible effect globally estimated at only 0.1%. This ineffectiveness is mainly caused by the fact that
Conversely, it is not wise to stop implementing the system in the simply because others are not since it is the right thing to do. The United States should just continue implementing the policy and try to convince other countries to adopt the system especially countries with high carbon emissions such as China and India.
Conclusion
Any valuable United States climate approach must incise global warming pollution intensely enough to pass up the worst effects of climate change, which means at least 83% less than 2000 levels by 2050. The tools that can be used include emissions trading and carbon taxes as well as technology standards, enticements, and public investment in clean technology and infrastructure. The most important thing is that any of these tools is adopted without delay to bring a reduction in the carbon emissions, thus the idea of the cap and trade is a fair move and should never be ignored. As much more tools are required and more countries are needed in implementing them, the cap and trade system should be encouraged and strongly supported, not only for the United States but for the whole world.
References
Athanasiou, Tom. "Cap and trade: another notion that's past its use-by date." Grist. 2007.
Accessed on March 3, 2010 available from http://www.grist.org/article/cap-and-trade-another-notion-thats-past-its-use-by-date
Cleetus, Rachel. "We need a well-designed cap-and-trade program to fight global warming."
Union of concerned scientists. 2009. Accessed on March 3, 2010 available from http://www.ucsusa.org/global_warming/solutions/big_picture_solutions/cap-and-trade.html
Fullerton, Don and Karney, Daniel H. (2009) "The Allocation of Permits in U.S. Climate Change
Legislation," the Economists' Voice. Vol. 6: Iss. 12, Article 2. Web. 3 March 2010.
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