Friday, April 10, 2009

Endangerment Finding Just Around the Corner?

Since last November, and the election of Barack Obama, there has been speculation as to whether "his" EPA would classifiy carbon as a dangerous pollutant.

Well the wait may be about over, according to the venerable Wall Street Journal. In today's edition ("Henry Waxman Has a Plan...," April 10, 2009) the Journal's editoral page proclaims, "As early as next week the EPA will classify carbon as a dangerous pollutant under current clean air laws." The Journal speculates that this finding will prompt "a seperate avalanche of new regulations."

The editorial goes on to say, "The Obama Administration claims it is flirting with this 'endangerment finding' and the economic havoc it would wreak only to force Congress into falling in line with its climate agenda." Funny, but the European Union has already enacted such legislation and last time I checked the EU still seemed to be standing. Or did I miss something and the EU collapsed this morning? I hope not since I have 100 Euros in my billfold.

And since when does the always-pro-capitalism-without-restrictions Wall Street Journal oppose the creation of a market -- in this case a market for carbon emmissions credits? I thought the Journal figured that markets were the cure for everything.

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