"Waxman-Markey... gives away 85% of the pollution credits in the first years of the program and provides many avenues potentially to evade compliance. While in theory the bill relies on the market to find the most efficient alternatives to greenhouse-gas emitting energy sources, in practice its subsidies, regulations and exemptions could skew the outcome in costly ways... [Passed in the House] is just a first step. With... fierce battles to come in the Senate, the debate over how to design this fundamental shift in the American economy remains wide open. It's not too late to hope for a cleaner cap-and-trade bill -- such proposals are circulating on Capitol Hill -- or a properly designed carbon tax that would send the right market signal to spur green-energy innovation while also leading to vital changes in behavior. We're not ignorant of political realities, and we don't believe the perfect should become the enemy of the good. Congress should deliver a bill to Mr. Obama this year. But given that congressional action could set a template for years or decades, we think it's too soon to settle for something that falls so far short of ideal."
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- News and Politics, News, Green, Environment, 6 more + add
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- JanforGore
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