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Cap and Trade Quote of the Day

Posted By Nicolas Loris On May 22, 2009 @ 11:21 am In Energy | Comments Disabled

From the Washington Post’s Steven Pearlstein [1]:

The other thing to say about it is that it is a badly flawed piece of public policy. It is so broad in its reach and complex in its details that it would be difficult to implement even in Sweden, let alone in a diverse and contentious country like the United States. It would create dozens of new government agencies with broad powers to set standards, dole out rebates and tax subsidies, and pick winning and losing technologies, even as it relies on newly created markets with newly created regulators to set prices and allocate resources. Its elaborate allocation of pollution allowances and offsets reads like a parody of industrial policy authored by the editorial page writers of the Wall Street Journal. The opportunities for waste, fraud and regulatory screwup look enormous.”


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[1] Pearlstein: http://www.washingtonpost.com/wp-dyn/content/article/2009/05/21/AR2009052104402.html

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