John McCain says that his lovely new cap-and-trade proposal is a free market solution.
Sen. McCain weighed in with a cap-and-trade program that he alleges will solve our global climate and energy problem. It’s a bad idea. It’s really a cap-and-kill-the-economy plan, as well as an unlimited spend-and-tax-and-regulate plan. It’s a huge government command-and-control operation that would make any old Soviet Gosplan bureaucrat smile.
Ironically, the U.S. has virtually the cleanest air of any country in the world. And market forces over the past thirty years have increased all manner of energy efficiency per unit of GDP by more than 50 percent. In fact, according the editorial page of Investor’s Business Daily, U.S. carbon emissions grew by only 6.6 percent between 1997 and 2004, compared with 18 percent for the world and 21 percent for the nations that signed the Kyoto protocol on greenhouse gasses. (Think Europe.)
Guess Kyoto’s not working. I’m shocked. The reasons Kudlow mentions for opposing this cap-and-trade deal are the same reasons the Kyoto Protocol was a bad idea. It’s an economy killer, and a promotion of massive new government bureaucracy and more stifling regulation to private enterprise. This solution to the myth of climate change isn’t the right one. We will do everything we can to solve the supposed problem except what would actually work to decrease our dependence of foreign oil — drilling and building more refineries. The answer is obvious, if Republicans would be bold enough to make that case. But they won’t. They are too interested in being popular with their fellow Washington insiders than they are in doing the right thing for the American people.