The debate in the United States on global climate change is shifting from whether to do something about the problem to what to do. The conventional focus on cap and trade is inhibiting progress on combating global warming. The inherent problems with the approach are too formidable. I t is extremely difficult to figure out the economic and environmental effects of an economy-wide cap-and-trade system for GHGs. A more viable strategy relies on performance standards for new sources of GHG emissions. These standards would strictly regulate the pollutants from direct sources of emissions such as power plants and autos. They would also mandate greater efficiency for new capital such as appliances and buildings that rely on fossil fuel combustion for the generation of electricity, heating, and cooling.
See details of Hoff Stauffer's argument in Foreign Policy in Focus

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