By Elmar Altvater, Achim Brunnengräber
The global is dealing with a number of critical demanding situations on the shut of the fossil and nuclear strength regime: the restricted assets of inexpensive traditional oil can merely be surmounted by means of tapping unconventional oil reserves, e.g. deep sea oil. The explosion of the oil platform Deepwater Horizon in 2010 and the next oil spill triggered huge, immense harm, which even a yr later can't be absolutely anticipated. one other much more vital probability emanating from the fossil and nuclear strength regime has been delivered to our realization by means of the Fukushima catastrophe. final yet now not least, the matter of weather switch because of a rise in greenhouse fuel emissions is looming, even though the foreign group has agreed on a substantial aid of those emissions. is that this terrible results of the Kyoto Protocol and the failure of successive weather meetings the outcome of a choice for using market-based tools? the vast majority of weather scientists, economists, and politicians think within the potency of “cap-and-trade” rules. They even conceive them as a constituent element of a “Green New Deal” or “Global eco-friendly Recovery”. The contributions during this quantity offer a serious exam of the theoretical foundations, the political implications, and the empirical studies of the applying of marketplace mechanisms and monetary tools to weather coverage.