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Subprime CO2 Scheme



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When one finds one’s self in agreement with ideological opponents, particuarly fairly extreme ones, it tends to give pause for a rethink.

But this time, it seems that both sides have it right. Both the WSJ’s Kimberly Strassel (to whom Ed linked below) and Friends of the Earth argue that President Obama’s clever carbon dioxide cap-and-trade ration-coupon scheme — a massive tax on direct and indirect energy consumption which, it now turns out, is where he plans to get the money for his tax cut . . . and a whole lot more — sets the stage for the same sort of intervention-fueled bubble and collapse that dogged the housing market and precipitated our current economic woes.

In case you were wondering whether the promise of billions of “global warming” dollars was corrupting . . .



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