(This article is a commentary published by Bloomberg News). President Barack Obama on Tuesday announced a broad attack on climate change. His hope is to reduce greenhouse-gas emissions, and he aims at every target imaginable -- every target within his authority, that is. Included in his plan are solar and wind projects on US public lands, new energy-efficiency standards and fuel-economy requirements, and greater limits on greenhouse-gas emissions of all kinds. Unfortunately, he had to leave out any strong action Congress could take. That includes a meaningful tax on carbon, the kind of change that’s needed to bring greenhouse-gas levels 80 per cent to 95 per cent lower than they were...
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