Tuesday, May 25, 2010

There's a lot to work through as oil still flows into the Gulf of Mexico.

David Friedman opines that Obama missed an opportunity to energize the country similar to Bush's reaction to 9/11. Aside from the rather obvious observation that this hasn't been nearly as seismic an event on the psyche of the country as 9/11 was, I do appreciate the oft-read columnist endorsing the pigouvian gas tax.

Ready to be terrified? Think about what happens when hurricaine season hits the Gulf of Mexico. Firstly, the darker surface of the water has the effect of absorbing sunlight, creating more heat in the gulf and thus more intense storms. Aside from that, I'd merely worry that storms could theoretically throw oil onto the usually-hit coastal cities. Maybe THAT could be the seismic event Friedman was hoping for.

Ed Glaeser laments that the existing climate bill (The American Power Act) isn't as simple, aesthetic, and efficient as a carbon tax. Of course, the bill is designed to pass (and the word "tax" is anathema), not to be ideally effective. He concludes that "it is hard to relish either this ornate piece of legislation or the prospect of inaction on global emissions."

It is also worth reading about whether the tea party's agenda – and their newly anointed libertarian leader – is mired in racism.

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