BUSH LITE:

[O]bama suggested yesterday that he still believes that an economywide carbon price is a better option than the Clean Power Plan, the regulatory approach he's using to advance a global agreement on climate change over the next two weeks in Paris.

"I have long believed that the most elegant way to drive innovation and to reduce carbon emissions is to put a price on it," Obama said yesterday in a press conference in Paris.

He echoed economists who describe greenhouse gas emissions as "externalities"--things of value that aren't correctly priced by the market. The economic impact of carbon emissions on sea-level rise, for example, isn't counted in the price of gasoline.

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