What was the main reason why the European system of Cap and Trade did not work very well to reduce carbon emissions in the early years of the 21st Century? A) Foreign countries purchased a large share of the permits and then they attempted to sell them back to European power companies at an enormous price for a huge profit. B) The cost of the permits were too high for most companies in Europe to afford them C) The cap on CO2 emissions was set too high and thus there was little incentive to reduce CO2 emissions since they were already emitting less than they were allowed. D) Not enough permits were issued and thus companies were in constant violation of emitting too much CO2