Is Global Warming worthy of a World Wide Warning?
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A failed carbon-trading scheme
May 30, 2007

Source: LA Times
“There is a growing consensus among economists around the world that a carbon tax is the best way to combat global warming, and there are prominent backers across the political spectrum, from N. Gregory Mankiw, former chairman of the Bush administration’s Council on Economic Advisors, and former Federal Reserve Chairman Alan Greenspan to former Vice President Al Gore and Sierra Club head Carl Pope. Yet the political consensus is going in a very different direction. European leaders are pushing hard for the United States and other countries to join their failed carbon-trading scheme, and there are no fewer than five bills before Congress that would impose a federal cap-and-trade system. On the other side, there is just one lonely bill in the House, from Rep. Pete Stark (D-Fremont), to impose a carbon tax, and it’s not expected to go far.”


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