Economist finds many flaws with the cap-and-trade mechanism

Giventhe potential boondoggles of trading and the environmental successes with simple regulation (a la the EPA), it’s surprising that cap-and-trade is the leading policy option for addressing climate gases. The McKinsey folks have already illustrated the most cost-effective strategies in their carbon abatement cost curve and the EPA has the authority to implement many of those efforts. What are we waiting for?

For more on this, see David Morris’ essay on the Waxman-Markey bill: http://tinyurl.com/qekkrc