Monday, July 27, 2009
Cap-and-trade: Epic failure
The ridiculous thing about how pathetic this bill turned out to be is that theoretically, it shouldn't have been extremely difficult to make this happen. Whether or not it is actually a good idea, Democrats as a group want to intervene and reduce CO2 emissions. Republicans as a group seem to be more concerned about foreign policy, and have an incentive to see oil imports drop, and especially to see the price of oil and gas fall worldwide (thereby weakening Russia, Venezuela, Iran, etc). Obviously, there is quite a bit of overlap between these objectives. Our congress completely failed to find it. Now we are all worse off because of it.