Climate: Open Europe's O'Brien calls E.U.'s CO2 program 'failure,' suggests different steps for U.S.

Three years ago, the European Union implemented an emissions trading scheme that ties in with Kyoto's credit system. Has the scheme provided any emissions reductions for the region? What lessons can the United States learn from the European Union as it tries to create its own domestic climate policy? During today's OnPoint, Neil O'Brien, director of Open Europe, a London-based think tank, explains why he believes the European Union's emissions program has been a total failure. He cautions that the Lieberman-Warner bill could provide similar results and recommends the United States take a different approach to reducing emissions. O'Brien, author of the report, "Europe's Dirty Secret: Why the E.U. Emissions Trading Scheme Isn't Working" also explains why he believes a cap-and-trade program could interfere with technological innovations.