Denver Post Editorial: CAP AND TRADE IS WRONG

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"It would do so by creating a new market, where essentially shares of carbon allowances could be bought and sold. A power plant that needed more allowances could buy them from another that had reduced its carbon emissions. Over time, the number of allowances would shrink, forcing reductions of CO2.

Critics say such a market could be gamed by powerful interests and also would be susceptible to fraud.

Some environmentalists say a simple tax on emissions would be a far simpler way to discourage polluters and encourage green energy innovations. Such a "carbon tax" could be increased over time to spur our nation's weaning from fossil fuels. We see merit in that approach.

Another problem with Waxman- Markey is that the analysis keeps changing. An early estimate by theCongressional Budget Office suggested the cost to families could be about $1,600 a year as the ratcheting down of credits to industry intensified."