All our markets are regulated, save for black markets, so we should ignore the free market kool aid. The important part of what I said earlier is assigning a cost, and the effectiveness of the market in finding solutions will depend on how well the cost is set. That much has been made clear over the years where it's been tried and where it's succeeded. Absolutely it requires regulation. All of our markets require it. Nobody can deny the power markets have to transform society, including the by-products that we're talking about right now. So to me any solution that isn't market based is doomed to fail.
Regulated markets. Not free markets.