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California also plans to implement a cap-and-trade mechanism in 2012.
"The governor thought it was important to be clear and honest and let the W.C.I. partners know that we don't think that now is the time to implement a cap-and-trade program," Mr. Grumbles said, referring to the regional effort, the Western Climate Initiative.
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Another innovative strategy would be to implement a "cap and trade" scheme for individuals to reduce energy use and consequent greenhouse gas emissions.
In 2009, he notably introduced legislation with Rep. Henry Waxman, D-Calif. D-Calif.uld have implementhata cap-and-trade program to curb greenhouse gas emissions.
But it did ignore that China announced a couple weeks ago that it would implement a cap and trade system, thus leapfrogging over our efforts.
"This is exactly the wrong time to be implementing a cap and trade program that will further hurt consumers and cause more job loses.
The George H.W. Bush administration first implemented a cap and trade system to tackle the problem of acid rain, and it worked to great effect.
But consider this: the United States did not invent the Internet by implementing a cap and trade system on fax machines.
During his first term, President Obama tried to get a cap-and-trade system implemented for carbon emissions.
While it is possible to design a cap-and-trade system that compensates households earning less than $250,000, implementing it would be a challenge.
Mr. Friedman says America needs to implement a carbon tax or a cap-and-trade system to mitigate the emission of greenhouse gases, which cause global warming.
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