Ross Douthat has a column in today’s New York Times in which he kindly mentions me, but far more important, manages to make a multi-layered argument for why an informed rational observer should oppose cap-and-trade legislation (within the length restrictions of an op-ed). In my view, the position that Ross presents – basically, that the cure is worse than the disease – is the rationally persuasive argument that won the day in recent legislative debates in the Congress.
I believe the debate and politics of this issue have, so far, played out along lines I set forth a couple of years ago. That doesn’t mean, however, that the debate is permanently settled. Nothing in American politics ever is, and the attempt to introduce cap-and-trade through legislation, regulation, and/or judicial rulings is likely to continue for many years.