Here is today’s lesson for U.S. policymakers on the spectacular success of the European Emissions Trading Scheme that all three leading presidential candidates – and, certainly, Ralph Nader – tell us they will impose . . . when they’re not also complaining about the high cost of energy. Leon Festinger, phone your office.

“Industry shelving investments over EU emissions plan” 06 February 2008“Green laws and regulation risk energy crisis, say Europe’s power companies”, The Guardian, 07 February 2008
“RWE halts investments in German power plants due to rising emission costs”, Forbes, 31 January 2008
“EU environment commissioner Stavros Dimas urged European member states and the parliament not to dilute the European Commission’s climate action and renewable energy package. He said that it is important ‘that the proposals are not watered down in the legislative process’, adding that ‘this would otherwise inevitably endanger the EU’s leadership and credibility’.” –AFX News, 28 February 2008

Yep. Can’t risk that credibility. Sorry, Stavros, but one can’t help but be reminded by your own rhetoric’s progression from sadistic bully to, well…