Former API economist Canes says cap and trade wrong emissions policy for U.S.
With climate discussions heating up on the Hill, the political advantage seems to lie with a cap-and-trade policy. But is a cap-and-trade approach the best option for the United States? During today's OnPoint, former American Petroleum Institute economist Michael Canes discusses his new Marshall Institute-sponsored report, "Cap & Trade is the Wrong Policy to Curb Greenhouse Gasses for the United States." Canes, currently with the Logistics Management Institute, discusses what he believes are better options for the United States: a voluntary approach to emissions reductions, and a carbon tax with redistribution of funds. Canes also gives his recommendations to policymakers and explains why a safety valve would not be enough to constrain the volatility of a cap-and-trade policy.