Causation thought re: Cap and Trade

“In the future, hot air will be the most widely traded commodity on the planet”.
What are the mechanics behind Cap and Trade? The regulations set forth by the government on carbon emissions are designed to punitively manipulate businesses into improving their systems such that they meet said regulations. Given that the trading of carbon emission credits has doubled in the last year and is expected to exceed $2 trillion a year, it should be noted that a great number of businesses (namely clearing houses and banks) will stand to profit hugely. Simply stated, others in this world will benefit from the punishments doled out to American businesses. At what point will those same banks, traders, and investors be disinclined to make available the financial resources businesses need to improve their systems? I can’t believe it will take very long, at all. It will be at the moment in time that we’ve finally ensured that no measure of success will ever be achieved, and the failure will be attained with mortal certitude.
Where is the morality in this? Where is the morality in profiting from the punishments of others? Allow me to be a hyperbolist for a moment and posit that the day will come where punishments will make for good “action” in Vegas. “I’ll give you 5 to 1 odds that SCAQMD (Southern California Air Quality Management District) comes down on {insert manufacturer of choice, here}, and hits them with a fine that will cost them {pick a dollar figure}. Double-or-nothing that they lay off jobs to recuperate the costs.”
Coming back to reality, it’s not hard to extend the metaphor to Wall Street, the Nikei, or any other international exchange that trades “carbon credits”. Again, where is the morality in this system? Should we simply accept that cost of American jobs is the price we pay for propping up undeveloped countries in the third world? How much are we willing to sacrifice for the sake of global citizenship?