It seems that my cynicism on this issue has now been justified. Offsetting and the whole industry that surrounds it is just another load of microeconomic mythology unrelated to any observable real world actuality, and is now being abandoned for that reason.
Microeconomics – that observation of how the world works in reality – is wrong becaus the Great Tuber has said so. Presumably on the grounds that microeconomics doesn’t produce the answers that the GT desires.
And now that reality – microeconomics is the toolkit we use to work out whether offsets work or don’t work. So Spud is that workman blaming his tools….