Last week the Government Accountability Office (GAO) published a report confirming what anyone who knows anything about how markets actually work already knew: the European Union’s cap and trade policy has been a complete failure. According to the report the “price on carbon emissions fluctuated” making the system’s “cumulative effect on emissions across the EU member states … uncertain.” Well Britain’s Energy and Climate Change Secretary Ed Miliband knows exactly what to do about those fluctuations. The London Times reports: [Miliband] appeared to be on a collision course with Britain’s …
