Smithsonian Magazine Reports on the Political History of the Cap-and-Trade Concept in the U.S.

If you are not yet familiar with the cap-and-trade concept, then maybe it is time to brush up on it.

First introduced into U.S. legislation in 1990 by President George H.W. Bush, the cap-and-trade began its role in U.S. environmental law to address problems with acid rain. But the concept of cap-and-trade goes back much farther than that.

The July issue of the Smithsonian Magazine includes "The Political History of Cap and Trade," which provides a brief but useful overview of cap-and-trade, why the first Bush administration adopted it as part of its agenda, and how it works.

Despite being skeptical if not out right antagonistic to the concept of cap-and-trade, the European Union -- with urging from the Clinton administration -- decided that it would form the backbone of the EU's efforts to address climate change. Of course after the U.S. persuaded the Europeans to adopt cap-and-trade what did the U.S. do but effectively absent itself from any constructive role in the climate change debate.

In any case, knowing about the fundamental aspects of cap-and-trade is likely to grow increasingly more important as time goes on. This article will help provide a context in which to come to a better understanding of it.