Cap and Trade only Mostly Dead

Audrey Jones / July 23, 2010

Yesterday, Senate Majority Leader Harry Reid announced an energy bill without a cap-and-trade provision—a victory for the American economy.  Yet, like the famous Miracle Max scene in The Princess Bride, cap-and-trade is only “mostly dead.”

In a year when seemingly-dead legislation has suddenly come back to life, it is premature for Americans to dance a victory dance that their economy has been spared.  Even small victories in Washington are followed closely by new battles.  We must remain watchful for cap and trade to return later in the year, stay focused in the near term on the possible danger of new legislation that could drive America’s offshore oil and gas industry out of business, and hold out for a more prudent plan. (more…)