The emissions aren't going to be reduced and prices are going to massively increase.
Here is the admission....
James Hansen, a professor at Columbia University who is credited with bringing global warming to the attention of U.S. Congress in the 1980s, said he doubts that measures being discussed at Copenhagen, such a cap-and-trade system, would actually force countries to produce fewer greenhouse gase
"We're not going to in fact turn down the emissions with the kind of actions that are being talked about."
"As long as fossil fuels are the cheapest energy, then they're going to continue to be used, and even more so. So you have to put a price on the carbon, on the fossil fuels -- coal, oil and gas."