Pataki: Cap-and-Trade Works

By
Ilya Marritz
WNYC News | Jul 13, 2010

Snagged a few minutes today with former Governor George Pataki, at a conference his law firm was hosting on "smart grid" energy transmission (standing room only, hundreds of lawyers in suits, this area looks hot...seriously.)

Unlike some Congressional Republicans, Pataki is strongly supportive of the Obama administration's push for a cap-and-trade law:

"It's in the 10 states of the Northeast, cap-and-trade, the regional greenhouse gas initiative that I, in fact, put in place. And I'm proud of that. And as the national government looks to see what they should do, I think this would serve as an appropriate model."

The USA's only cap-and-trade marketplace is, in fact, a totally important, but lesser-known legacy of Pataki's governorship. Europe is the only other political entity with a similar system (and unlike Europe's, ours has never crashed).

Check out today's Financial 411 for more.

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Ilya Marritz

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