A BBC News article attributes the rising cost of electricity in the UK, a burden for the poor, in part to carbon trading and questions whether the system induces actual reductions in greenhouse gas emissions:
Europeans are paying to reduce greenhouse gas emissions in China as part of the continent’s efforts to tackle global warming.Power generators and other polluting firms are buying “carbon credits” from countries such as China to offset their own emissions.
But where the Chinese gain by cleaning up their factories and selling the resulting credits, European consumers lose as the costs are often passed on in the form of higher energy bills. [Full Text]
