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Article: Scrap Cap-and-Trade.(Nation)
- Article from:
- Newsweek
- Article date:
- November 9, 2009
- Author:
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Byline: Karl Rove
Climate-change legislation that doesn't add up.
There's much debate about the efficacy of controlling pollutants with economic incentives, also known as cap-and-trade. Its advocates dress it up with a lot of moral indignation. Cap-and-trade would not achieve its goals--and it would put America on a ruinous course. Here's why:
The price tag would be huge. Cap-and-trade would raise prices for the energy we get from natural gas, coal, and oil. Putting a tax on carbon means that every American who flips a light switch, turns a car key, or buys anything made or shipped in this country will pay more. The Treasury Department ...