Kim Strasell in OpinionJournal today:

CEOs are quick learners, and even those who would get smacked by a carbon cap are now devising ways to make warming work to their political advantage. The “most creative” prize goes to steel giant Nucor. Steven Rowlan, pany’s environmental director, doesn’t want carbon caps in the U.S.–oh, no. The smarter answer, he explains, would be for the U.S. to impose trade restrictions on foreign firms that aren’t environmentally clean. Global warming as foil for trade protectionism: Chuck Schumer’s dream.

What makes this lobby worse than the usual K-Street crowd is that it offers no upside. At least when Big Pharma self-interestedly asks for fewer regulations, the economy benefits. There’s nothing capitalist about lobbying for a program that foists its debilitating costs on taxpayers and consumers while redistributing the wealth to a few corporate players.

This is es from Washington steadily backstepping energy policy into the interventionist 1970s, picking winners and losers. In ethanol, in biodiesel, in wind farms, success isn’t a function of supply or demand. The champs are the ones that coax out of Washington the best subsidies and regulations. Global warming is simply the biggest trough yet.

Nothing wrong with entrepreneurial approaches to environmental management, but her point’s well taken.

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