After such legislation was thwarted by the Bush administration, House Democrats have passed a sweeping climate change and energy bill that includes a “cap and trade” provision, capping carbon emissions and allowing companies that lower their carbon emissions to sell that “space” below the cap to other carbon producing businesses. Is this the right approach to dealing with the pollution that is changing global climate patterns?
Should carbon emissions be capped without allowing trades? Or will these measures hurt the economy as it struggles to recover? Is this the wrong time for such legislation?