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I wrote last Friday about the China/India hole in the American climate strategy:
America appears to lack a high-probability strategy for how to get China, India, and Russia to agree to self-impose a significant positive carbon price.
The Administration and its Congressional allies are trying to impose a significant carbon price in the U.S. through something like [...]

The House Energy and Commerce Committee marked up the Waxman-Markey cap-and-trade climate change bill this week.  Much of the discussion focused on the domestic impacts of the legislation, and how the policy design would affect various American constituencies.  I would like to zoom out and think about how a policy like [...]

(Editorial note:  I was doing so well moving to shorter posts.  I fail miserably in achieving that goal here.  I went the comprehensive route instead.  I promise to return to shorter posts in the future.  Buckle up – this is a long ride.  I hope you find it’s worth it.)
(Update:  There’s an important correction in [...]

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About Keith Hennessey

I served as the senior White House economic advisor to President George W. Bush.  My job was to coordinate economic policy for the President, including macroeconomic issues, financial markets and institutions, tax [...]

The Senate is now debating a climate change bill, typically referred to as the “Lieberman-Warner” bill, referring to Sen. Joe Lieberman (I-CT) and Sen. John Warner (R-VA).  Technically, we think they’ll end up considering a slightly different version of that bill, offered by the Chair of the Senate Environment and Public Works Committee, Sen. Barbara [...]