Another good idea from the administration?
The FT discusses cap and trade:
On the drawing board is a vast and unfathomably complex new system, which fosters corruption, raises little revenue and tries to suppress the incentives that are its entire purpose. Otherwise, it all looks quite promising.
Sigh. All the meddling. There is no reason for cap and trade, just as there is no reason for the US government to own GM, even for a day. Who can be surprised at such capriciousness as we seem to transition from a nation of laws to a nation of men?