. >> there are two buzzwor aroundere. one is cap and trade. the other is altertive energy. inurope, these things e rather more advancedn some ways. germany s more alternative energy. of course,hey are on their second version of cap and trade, which is the idea at cold -- coal otheemissions will bapped and there is the ability to buy credits. what happened in europe the first time? he first ti that europe had the cap and trade, itwas called the emissions trading scheme. it w meant to be trial period. is pbably a good thi that it was. they found thathey over allocated the allowances. at one pnt, aftert was scovered, the companies had far more allowances that they needed the system collapsed a they learned a lrom that situion. one of the reasonshat happened is because they did no have good data going in. that is th differencewith our system. we know what ourlants are in bidding, so we ll be much more refined. >> w were the winners in europe? was a francehe winner? was germany e winner? >> i thinkt is early to tell who the winnersill ultimately be because that first time was ju