Magazine August 10, 2009, Issue

What’s Wrong with Cap-and-Trade?

(JP Moczulski/Reuters)

In June, the House of Representatives passed the American Clean Energy and Security Act, otherwise known as Waxman-Markey after the bill’s sponsors, Democrats Henry Waxman (of California) and Ed Markey (of Massachusetts). The legislation’s supporters say it would help to avert disastrous climate change by restricting the amount of carbon-based energy Americans use. These restrictions, plus a host of subsidies and incentives for renewable energy, are supposed to bridge America’s transition to a “new energy economy,” a future where office workers commute by electric cars and light rail from their eco-friendly residences to their jobs as clean-energy grant managers, and

In This Issue



Books, Arts & Manners


The Week

The Week

Of course Obama hasn’t read the health-care bill — he’s probably still working his way through the stimulus.


The Latest