WaPo: Cap-and-Pay-Off — No time to ignite a trade war
PRESIDENT OBAMA has been about as enthusiastic as one can be supporting the leviathan Waxman-Markey energy bill, which the House just passed, despite the bill’s web of mandates, subsidies and regulations. But following the squeaker of a House vote, there was one provision that even Mr. Obama couldn’t stomach: a requirement added shortly before the vote that, in 2020, the president begin slapping tariffs on goods from countries that do not limit or price their carbon emissions. He’s right to be skeptical.