Oh yes. The cap is there just for the market to get a certain price and to achieve a goal. If you don't put on caps, you will never get an economic incentive to reduce, really, because anything goes. You can see that markets that work without a fixed cap will not bring interest, will not raise the demand for credits. Actually, if you don't set a cap, what will you trade?
On February 6th, 2007. See this statement in context.