Looking Green, Feeling Blue
Environmentalist dreams collide with economic reality.
11:00 PM, Jan 26, 2009 • By IRWIN M. STELZER
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So, back to coal and nuclear. I would like to be a fly on the wall when Larry Summers explains these ugly facts of energy-sector life, the necessity for tradeoffs, to Ms. Browner and her colleagues. Or when Summers explains to the president that only a tax on carbon, to be offset by a cut in payroll taxes, can set the stage for efficient investment in renewables, and a reduction in greenhouse gas emissions that is not also a reduction in the overall efficiency of the economy.
Irwin M. Stelzer is a contributing editor to THE WEEKLY STANDARD, director of economic policy studies at the Hudson Institute, and a columnist for the Sunday Times (London).
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