Does the Obama administration care more about creating wealth or redistributing wealth? Maybe the strategy is for the WH to worry about the latter and let the Fed take care of the former. Scott Grannis, the Calfia Beach Pundit, makes an interesting observation (bold is mine):
They may not know all the stats and numbers, but people instinctively don’t seem to want to pay a lot of dough to limit carbon emissions. Not even close. In fact, you can find plenty of climate experts who doubt they ever will, particularly in India and China. Betting on mitigation and technology seems the more realistic route. A bit from Bjorn Lomborg:
If not for unprecedented actions by the Ben Bernanke-led Federal Reserve, the United States economy might be mired in a depression.