In the war on carbon dioxide, the chief culprit in global warming, taxes are out and "cap and trade" is in, as key legislation moves forward in the U.S. Congress.
But will the watered-down proposal work?
It could, most experts believe, if the final plan doesn't have too many loopholes and inspires similar action in China, India and other big carbon emitters that have yet to jump on the global-warming bandwagon.
"Do I think the bills we are talking about would do the trick? I think so," says Paul R. Kleindorfer, professor emeritus at Wharton and professor of sustainable development at INSEAD in France. "The standards are steep," adds Matthew White, a professor of business and public policy at Wharton. "If you believe it's worth spending a lot of money to clean up the environment, then this is a bill you would support."
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