Cap And Trade Will Be Huge For Investment Banking
• The Business InsiderIt will be HUGE for people like gore too the rest of us will pay through the nose! Now the story... The cap and trade bill will be huge business for investment banks, leading to a boom in M&A and underwriting activity, says Kyle Stock on the WSJ's Deal Journal blog. In particular, U.S. industrial companies will begin to look more attractive to companies in Europe, which has had a carbon market since 2005. While the U.S. power market has long looked good to foreigners, because Americans buy a relatively large amount of electricity per-capita and the regulatory structure here lends itself to rate increases, European companies have shied away from acquisitions because of the carbon question mark. They would likely be bolder if carbon had a price and a fixed supply.
