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High/Low: Is There Now Reasonable Agreement on the Costs and Benefits of Waxman-Markey?

By Robert Murphy -- May 12, 2009

Supporters of the Waxman-Markey climate bill have not seriously disputed the extreme costs and the negligible benefits estimated by critics of the cap-and-trade proposal.  I must confess that I was expecting a real fight, but some very important markers seem to have been laid down in this legislative debate. Waxman-Markey supporters are going beyond the math to dispute the conclusion being drawn from the math. And that conclusion, which logically follows, is that cap-and-trade for carbon dioxide is a very bad deal.…