Climate Virtue Socialism In Action

I've noted before that Europe seems to have a far stupider energy policy than we do here in the US, if you can believe it. There are many factors driving up the cost of energy in Europe, but one of the significant drivers of the inflation is the EU's cap and trade system, a system which we are contemplating here in the US. Turns out that capping and trading is causing some problems, not just by driving up energy problems, but by embarrassing the Euros who want to export their virtuous central planning poison around the world...

"Europe needs to demonstrate that emissions trading is not too expensive, to win agreement for a global climate protection deal starting 2013, Lewis said. 'Probably the last thing that a European policymaker would want to see is a price spike in the carbon market in Europe that would make other countries internationally less willing to contemplate tough carbon caps.' "

We can't have anything standing in the way of Climate Virtue Socialism, so what to do? Cheat obviously...

"Carbon costs layered on top of surging energy prices will likely prompt countries to allow the import of more United Nations credits, which are 26 percent cheaper, `to cushion against, the risk of an excessive price spike,'' Lewis said. `A more generous quota may have to be allowed.' "

I'll say it again, let's stay well behind the Euros and see if these schemes actually work or drive the economy over a cliff before we do anything.