James Pethokoukis

Politics and policy from inside Washington

What is the cap-and-trade bill?

June 26, 2009

This is a smart summary: “Waxman-Markey is the climate policy equivalent of Sarbanes-Oxley financial regulation, guaranteeing extensive new bureaucracy and substantial economic cost to the productive economy while achieving few of its stated objectives. And the “cap and trade” system at the heart of the bill is riddled with so many loopholes that it should be considered more of a “hairnet and giveaway.”

Comments

So in ten years will we be dealing with a dysfunctional CO2 market, rife with abuse and corruption? Could we even see a CO2 market bubble that collapses under its own weight and inefficiency? If so, you may want to start investing in Co2 offsets now.

Posted by greg | Report as abusive
 

Amazing that the Gore family is baking cap-and-trade trading software and a non-existant carbon offset investment firm, isn’t it?

Posted by Hank Reardon | Report as abusive
 

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