Originator of cap-and-trade theory now skeptical of idea

Trucking interests and others argue that the bill penalizes the domestic oil and gas industry by excluding U.S. refiners from most of the free emission allowance provisions that are intended to level the playing field and will increase fuel costs and give a competitive advantage to non-U.S. refiners.

The Trucker News Services

8/18/2009

Thomas Crocker, who while a graduate student in the ’60s devised a cap-and-trade system similar to the one being considered by Congress, now says he’s “skeptical” it’s the best way to regulate carbon emissions.

A recent Wall Street Journal article quoted Crocker, now 73, as saying he prefers an outright tax on emissions because it would be easier to enforce and have more flexibility.

Once a cap is in place, Crocker told the Journal, it’s very difficult to adjust.

The idea behind it is that governments can cap smog emissions from power plants or pesticide runoff by farmers. And because some polluters are better at curbing emissions than others, they could trade rights and polluters would then figure out the cheapest way to meet new target emissions.

Trucking industry spokesmen point out that transportation is not discretionary but a necessary and essential element of moving America’s freight and that the higher fuel costs will be passed on to the public.

The House passed a cap-and-trade bill while the Senate could take up a similar measure in September, despite strong opposition by Republicans who say it is a tax and harmful to the economy and Democrats who are struggling to spread the cost around, from consumers to coal plants.

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