WHAT CAPTAIN OZONE WANTS TO DO TO YOUR ECONOMY:

Europe's Problems Color U.S. Plans to Curb Carbon Gases (Steven Mufson, 4/09/07, Washington Post)

As U.S. lawmakers work on the details of their greenhouse-gas legislation, they are looking carefully at Europe's experience. Five Senate proposals all use the same basic approach, known as "cap and trade," that Europe has used for the past two years. But what the snappy name "cap and trade" means is that the market will put a price on something that's always been free: the right of a factory to emit carbon gases. That could affect the cost of everything from windowpanes to airline tickets to electricity.

Europe has already hit a few bumps with its program. There's the Dutch silicon carbide maker that calls itself the greenest such plant in the world, but now can't afford to run full-time; the French cement workers who fear they're going to lose jobs to Morocco, which doesn't have to meet the European guidelines; and the German homeowners who pay 25 percent more for electricity than they did before -- even as their utility companies earn record profits.

Do they call it Gorenomics?

Posted by Orrin Judd at April 9, 2007 1:28 PM