Climate: ACCF's Margo Thorning says Lieberman-Warner bill catastrophic for U.S. economy

As the Lieberman-Warner climate bill makes its way through the Senate Environment and Public Works Committee, which aspects of the bill will be contested and require compromise? During today's OnPoint, Margo Thorning, senior vice president and chief economist at the American Council for Capital Formation, explains why she believes this bill does not account for the economic security of the United States. She says a carbon tax would be a better option, economically, for the United States. Thorning also discusses the upcoming international climate talks in Bali, saying the United States should stay focused on the "major economies" plan established last month. She also explains why binding targets would not work and gives her take on the success of the Kyoto Protocol.