The Waxman-Markey climate change bill, a 1,427-page special-interest wish list, was put together in such a rush that the numbers don’t add up. Sum the percentage of emissions allowances to various special interests in the years 2016 and 2017 and (surprise, surprise) you get a value greater than one hundred. That’s right—the bill allocates nearly a billion dollars worth of allowances over and above the emissions “cap” set for those respective years. Waxman-Markey doles out emissions allowances to special interests ranging from the natural gas industry to the auto industry. …
