Cap-and-Trade Is Dead. Long Live Cap-and-Trade

Cap-and-Trade Is Dead. Long Live Cap-and-Trade

President Obama’s risky perseverance on health care is running over another of his pet government expansions—the cap-and-trade bill sent by the House on June 26 for Senate consideration. Recall that cap-and-trade is complex legislation with a very simple premise: make energy so expensive to consume that Americans use less of it, and “greenhouse gas” emissions are thereby curtailed.

But even though it’s now clear the bill is not getting out of Congress, look for the Obama Administration to saddle our economy with this huge new energy tax through other means....