May 13, 2008
ONCE YOU CONCEDE THAT FORCING INNOVATION WORKS THE REST IS EASY:
McCain’s Assault on Reason (Roy Spencer, 5/13/08, National Review)
What worries me is the widespread misperception that we can do anything substantial about carbon emissions without seriously compromising economic growth. To be sure, forcing a reduction in CO2 emissions will help spur investment in new energy technologies. But so does a price tag of $126 for a barrel of oil. Finding a replacement for carbon-based energy will require a huge investment of wealth, and destroying wealth is not a very good first step toward that goal.
We have wealth. Our enemies have carbons. It's not a hard call even if you use only Reason. Posted by Orrin Judd at May 13, 2008 10:05 AM
Sure, but none of that argues for a cap and trade program instead of a tax. There are a few things that argue for cap and trade, like the lack of transparency making it easier to sell to voters, or the ability to restrict emissions down to a certain amount, just as a tax has its own advantages, like less bureaucracy, less rent-seeking and corporate welfare, and much more flexibility.
Posted by: John Thacker at May 13, 2008 10:25 AMA cap is a force.
Posted by: oj at May 13, 2008 11:14 AMDittos to Mr. Thacker.
cap and trade is an invitation to corruption. It hasn't worked in the EU, and it won't work here.
McCain is now in on the same game as Obama, Clinton, Gore, and the rest of elite insiders ready to cash in on gamed instruments.
Bush's 3rd term indeed.
Posted by: Bruno at May 13, 2008 11:28 AMW's family business is oil. They like high prices and US dependency.
Maverick's is national defense. They hate funding the enemy.
Posted by: oj at May 13, 2008 3:23 PMActually, we have plenty of "carbons." Enough to last millenia.
People need to chill out about this, though. Democracies aren't going to tolerate gov'ts doing anything that damages their economies--that's why no politician ever proposes doing immediate cuts, but only things that don't have an impact until long into the future (after they've left office).
Posted by: b at May 13, 2008 4:33 PMYes, it's doable because it would help the economy.
Posted by: oj at May 13, 2008 4:55 PM