So, über global warming rent-seeker Royal Dutch Shell finds itself leading European industry's cry for help, seeking rescue from the Eurocrats' push to make something less of a laughingstock out of their cap-n-trade scheme. True, the statement by their CEO is made specifically by virtue of his chairing a particular committee but it doesn't give off the odor of having been dragooned into doing so. Reminding us that it is difficult to ride the backs of certain tigers without ending up on the inside.
RDS were of course among the noisiest cheerleaders for the scheme, in on the game early with Enron and BP, confident that it wouldn't get out of their control, would always be or be close to the scheme that they designed and planned to reap, etc. That cocksure thinking should ring rather familiar in many K Street offices right now. Oh, and presidential campaigns in both parties.
A lesson, but is anyone in the U.S. listening?
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