I AGREE WITH MATT STOLLER that carbon cap-and-trade schemes, however appealing they might sound in the abstract, are likely to be scams. If you’re going to get into this game at all, a carbon tax, or an old-fashioned fossil fuel tax, is likely better. However, I think that any such tax should be revenue neutral, with offsets somewhere else so that it’s obvious that it isn’t just a grab for revenue with global warming as an excuse.