Comment Where are the mod point when you need em? (Score 1) 874
This is dead on, and I've been saying it for years. Too often people hear there's potentially a problem and think "We have to solve it!" What they don't do is ask any of the above questions. I've seen worse ideas than cap and trade, but as an economist (by degree and profession) I can tell you that it doesn't work how they suggest it will.
The Government really doesn't need to do anything to solve the global warming problem. Innovation is obviously the only real solution, and every energy company and tons of private equity funds are investing billions of dollars to create green technologies and green energy sources. They do this because they know if they can create something that is economically viable, they'll make more money than God. They also know that, besides as a potential goldmine, it also acts as a preventative measure in case bills like this do pass. Game theory suggests that all we really need is a credible threat that something like this might pass to spur innovation, we don't really need to force them to act right. And as an added bonus, it's much cheaper and more effective than passing this type of legislation, since their research budgets aren't crippled by bad policy. Why punish those who are already playing by the rules?