Congress is working to pass so-called ‘Cap and Trade’ legislation in the coming weeks. Supporters say it’s badly needed energy reform and a movement away from fossil fuels and towards renewable energy, but opponents say it’s a huge energy tax on the American people that won’t do much of anything to improve the economy or the environment. Jim Manzi of the Manhattan Institute has run the numbers. What will be the economic impact on the world and the U.S. if this plan gets enacted? Will the benefits outweigh the costs or will it be very much the opposite? Manzi offers his analysis to those and other ‘Cap and Trade’ related questions.
