The terrible cost of carbon trading: It is being called “the green goldrush.” Billions of dollars in investment money are piling into the booming EU carbon trading market, which is expected to more than double to 22 billion euros (US$28.2 billion) this year. And London, where 80% of the European trade is being conducted, is the new El Dorado. But is all this frenetic activity a business fix to save the planet or the destructive new face of international capitalism? — Taipei Times

Green gridlock: “You’d have to go back to the Enlightenment to see such a big change in worldviews.” That’s how Environmental Working Group president Ken Cook characterized the environmental shift coming to Congress after the Democrats’ triumph over the GOP last week. But, hyperbole aside, what victories can environmentalists realistically expect on Capitol Hill over the next two years, considering that Congress is still narrowly divided and Dubya still wields a veto pen? — Salon

Adapting for the future: The debate over whether human beings are changing the Earth’s climate for the worse is over – we certainly are. The question now is “how should we respond?” Some may choose to deny climate change and bury their heads deeply in the sand. Unfortunately that inelegant posture prevents them from seeing the opportunities that lie ahead. — Lord Oxburgh, Online Opinion

Great fusion experiment: Physicists have dreamt about it for decades: harnessing the fusion process that powers the sun to make clean, safe and limitless energy. A multinational pact signed Tuesday may bring that dream a step closer to reality. — Globe and Mail

Taskforce throws nuclear challenge: Prime Minister John Howard’s nuclear taskforce has issued a significant challenge to the Federal Government ahead of next year’s election. It says nuclear energy will not get off the ground unless polluters are made to pay the costs of their emissions. — The Age

Peter Fray

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Peter Fray
Editor-in-chief of Crikey