Introduction
 
Momentum toward national carbon regulation has been picking up for some time. The business community is worried about the possibility of a new regulatory scheme that could impact how they buy energy and manufacture and distribute goods. Partisans compound this worry by seeking to stir up fear or garner support for legislative action. Moreover, their actions fuel misinformation and confusion.
 
Though we don’t know the final rules that will result from the many compromises it will take to win a supportive majority in both houses of Congress (the U.S. House passed a cap-and-trade ...