Monday, January 29, 2007

Kimberley Strassel coins the term "Big CarbonCap" for the large corporations that are now lobbying for cap-and-trade controls of CO2 emissions that will just happen to financially benefit them. (Hat tip: Eric.) Consider how American corn farmers are making money from government mandates for ethanol in gasoline combined with tariffs against cheaper ethanol made from cane sugar grown in countries like Brazil. Bush and Congress want to appear to be doing something to address global warming. I predict they will continue to do such somethings in ways that are lucrative for a few yet inefficient for the nation, no matter how the environmental externalities are calculated.

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