| Comment | Cap and Trade is just a form of buying one's way out of reducing
carbon use. Allowing speculation in such markets further removes
the process from the goal of reducing carbon use. There is enough
carbon at present to raise sea levels 3 meet, if we could magically
turn off the carbon switch today. California has over 1,000 miles
of coastal lands and inland lowlands that will be severely impacted
by sea level rise. At the minimum California should remove
speculation from its cap and trade program so that its
effectiveness can be measured, and so that incentives for
maintaining a program that will not work will be removed.
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