Someone asked about carbon prices. Carbon prices are probably the best policy option, but most politicians are unwilling to do that, and that's why I advocate the low carbon fuel standard as a second-best approach to it that is fuel neutral and that uses tradeable credits so that you create market forces, stimulate innovation, and create a durable framework. A parliament or a legislative body should not get into the business of trying to micromanage and pick winners. It will lead to wasted money. Something like a low carbon fuel standard also reduces the burden on taxpayers because it creates a requirement in which the fuel suppliers need to respond and it reduces the need for subsidies.
On April 20th, 2010. See this statement in context.