The newest issue of Michigan Science has been posted by the Mackinac Center for Public Policy. I especially enjoyed reading Deneen Borelli’s piece on the failed “cap and trade” legislation titled, “Just the Facts.”
Borelli looks at what cap-and-trade legislation would mean for Michigan consumers and businesses. She and I both noted in articles the hardest hit would be households with lower income. It seems like an obvious point, but it is still amazing that many policy makers and religious leaders actually endorsed the legislation, considering a further increase in energy prices by legislative fiat is ill timed. Unfortunately, as I pointed out in my June commentary, we probably haven’t heard the last of cap-and-trade. Many new green policy initiatives serve as the new vehicle of choice for those who favor more government spending and regulatory action.