Anyway I posted this here because I think it somewhat resembles the policy of buying and closing coal mines. You’re deliberately creating scarcity. Since there are losers when you do that, policymakers might respond. I think creating scarcity in carbon rights is more efficient and much more easy to implement than creating scarcity in coal, but indeed suffers from some of the same drawbacks.
Anyway I posted this here because I think it somewhat resembles the policy of buying and closing coal mines. You’re deliberately creating scarcity. Since there are losers when you do that, policymakers might respond. I think creating scarcity in carbon rights is more efficient and much more easy to implement than creating scarcity in coal, but indeed suffers from some of the same drawbacks.