Cap-and-trade calamity? Au contraire. While the US flounders on regulating carbon, France’s Nicolas Sarkozy is pushing forward with new carbon tax legislation that will only add to France’s edge in the emerging green economy.
With heavy subsidies in place for nuclear power, France already generates 80% of its electricity from non-fossil-fueled sources. The French are also participants in the European cap-and-trade regime. That combination of support for clean technologies and downward pressure on carbon is the same that the Obama White House sees as the critical path to green energy adoption in the US. Progress has been elusive in that regard and things do not look rosy in the Senate this fall.