Makes sense

If you care about climate change, stop talking and start taxing. - By Anne Applebaum - Slate Magazine

Applebaum argues that governments simply need to tax oil, gas and coal at sufficient levels so as to make alternative energy investment attractive to clean energy entrepreneurs.

A tax can do that tomorrow. A carbon trading scheme full of compensation, introductory periods and in need of further amendment down the track may take years to get that right.

(The only hesitation is that taxes are subject to revision too, I suppose, but still it removes so many of the complexities of carbon trading, I think it's a worthwhile risk.)