The 2009 US cap-and-trade bill lavished its biggest subsidies on the worst polluters.

Evidence

24 This occurred, for instance, in the cap and trade bill which passed the U.S. House in 2009, before it was killed in the Senate. The bill as passed gave away 83 percent of permits for free, with an excess subsidy to the worst polluters of $134 billion (Goodell, “As the World Burns”). — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 2330

Categorization

• ADDENDUM: Directly extends the tamarisk/tree infrastructure piece’s theme of market-based environmental fixes being captured by polluters.