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Smurf you have just brilliantly laid out why we must have an ETS, without it there's no capital flow to pay for it, without an ETS, Renewable's are too expensive....and that's exactly why its inevitable.
Really ?
Engineers would note that the ETS is fundmentally a financial market instrument. Engineers would also note that it is only the financial system which is preventing the development of vast amounts of clean, renewable energy right now.
Renewable energy, which requires large capital investment, simply can not compete against lower investment / higher ongoing cost fossil fuels in this environment. We're going to cook the planet not through lack of technical ability or resources, but because speculation was deemed a better use of capital than production. Hmm...
Sounds more to me like the capital from an ETS would largely line the pockets of investment bankers and speculators.