Our newly elected president has publicly embraced the establishment of a government-mandated “cap and trade” system to help combat global warming. “Cap and trade” refers to the government establishing greenhouse gas (GHG) emission levels for certain industries. An entity can comply with its limits by either reducing emissions or buying “carbon offsets” from someone else. There are a couple of items to keep in mind as I go through the presentation. First, we commonly think of GHGs as carbon dioxide, but they are, in addition, whatever the government says they are. Second, carbon offsets are created when an entity emits […]