So true. It seems the Biden proposal and the GND climate track are throwing a lot of money at the wall hoping most of it sticks. The "more" that is needed is a consistent regulatory policy setting a common goal for climate performance across the entire economy rather than for one sector at a time. A truly market based policy will set a single performance standard or expectation for all polluters and value emission reductions and offsets. If the expectation is exceeded, the over compliance will have market value. If the expectation is not met, the polluter must find a solution elsewhere in the market. If we want risk-taking on carbon reductions to have the highest reward ratio, markets are very efficient in that regard. There is a good chance money thrown on the wall will not be the most direct path to necessary emission reductions.

Bob Neufeld

Retired environmental compliance and government relations vice president for a small petroleum refiner. I have degrees in chemical engineering and law.

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