Of the many alarming comments Environmental Protection Agency (EPA) administrator Lisa Jackson made to attendees at the United Nations Climate Change Conference in Copenhagen, a select few stood out as particularly daunting. On the anniversary of Pearl Harbor, the EPA dropped its own economic bomb, asserting that carbon dioxide and five other greenhouse gases are dangerous pollutants and a threat to human health and the environment. Consequently, the EPA is preparing to implement costly regulations on the economy to cut carbon dioxide emissions. But Jackson said we can take common …
That’s what David Schoenbrod and Richard B. Stewart call Waxman-Markey in their Wall Street Journal op-ed today: As a candidate for president in April 2008, Barack Obama told Fox News that “a cap-and-trade system is a smarter way of controlling pollution” than “top-down” regulation. He was right. With cap and trade the market decides where and how to cut emissions. With top-down regulation, as Mr. Obama explained, regulators dictate “every single rule that a company has to abide by, which creates a lot of bureaucracy and red tape and often-times …
