Canada dodges carbon bullet .Collapse of global cap-and-trade market vindicates Stephen Harper

Toronto Sun (Canada)
"What if they created a global cap-and-trade market in carbon dioxide emissions and nobody came?

That’s almost what’s happening now.

It underscores the wisdom of Prime Minister Stephen Harper’s refusal to be railroaded into carbon trading by the opposition parties and all the usual “green” suspects.

The international trade in carbon credits, having proven ineffective at lowering carbon dioxide emissions, while raising consumer prices and riddled with the same kind of fraud, profiteering and reckless trading practices that led to the 2008 global recession, is now suffering its final indignity. Almost no one wants to buy carbon credits, which are the stock of carbon trading markets, with each credit permitting the bearer to emit one tonne of carbon dioxide through the burning of fossil fuels. The signs of a looming collapse in carbon markets are everywhere."