I know we're not supposed to post lengthy articles in full. But hell, this one is too good not to. Source
As the article mentioned, this is how the US address the acid rain problem. It has worked by reducing sulphur emmissions. But as long as Bush still thinks that the "jury is still out" on global warming, even market-oriented solutions won't get far in the next few years in the US.
I'm intersted. I just can't comment. I have to stay out of energy discussions except in the most general sense. Let me make one comment. From the article, "When oil and gas are expensive, Europe’s utilities burn more coal instead of gas. Because coal is dirtier, they need to get their hands on more carbon allowances to compensate, and that necessity is driving up their price." So take note Greens, burning Mideast oil means less CO2 in the atomosphere than burning the equivalent amount of domestic coal.