The problem with cap-and-trade legislation

There is much anticipation in Washington as important legislation on a cap and trade scheme to deal with global warming comes up for a vote in Congress later this week. But don’t get your hopes up too high about the legislation’s long-term chances. News from Australia shows how difficult it is to get this sort of legislation through. When politicians really focus on the economic costs involved, they tend to quail.

There is also the “after you, Claude” problem. The Australian opposition are arguing that there is no point in their country acting until they know what the US will do, and what will happen at the Copenhagen climate change talks. American politicians, meanwhile, are quite certain to argue that the US should not act until it has a guarantee that China will make similar sacrifices.

The American opponents of climate-change legislation are already taking heart from the setbacks to the Australian scheme. They are also seizing upon a new book by Ian Plimer, an Australian professor and climate-change denier. Actually, I hate that phrase “climate-change denier” – since it (possibly deliberately?) links disputing the consensus view on global warming with “holocaust denial”. It might be brave, it might be irresponsible – but taking issue with global consensus on global warming is not like claiming that there were no gas chambers as Auschwitz.

The World

with Gideon Rachman

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Gideon Rachman and his FT colleagues debate international affairs.

Gideon became chief foreign affairs columnist for the Financial Times in July 2006. He joined the FT after a 15-year career at The Economist, which included spells as a foreign correspondent in Brussels, Washington and Bangkok. He also edited The Economist’s business and Asia sections.

His particular interests include American foreign policy, the European Union and globalisation
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