Why Cap and Trade Will Become Law

There is virtually no chance that cap and trade legislation will lead to reduced emissions of carbon dioxide. However, this fact probably won’t be much of an obstacle to cap and trade legislation passing sometime in the next few years. Here is why:

Sen. Benjamin L. Cardin (D-Md.) called cap-and-trade “the most significant revenue-generating proposal of our time” . . .

Don’t expect most members of Congress — Democrat or Republican — to turn their back on this opportunity. Clive Crook at the FT explains the underlying fiscal problem.