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A New World Order

Fortnightly Magazine - February 2005

three months have witnessed a succession of political, scientific, and economic developments in the climate-change arena that have substantially increased pressure on the United States to enact federal legislation to deal with global warming. Recent events signal the emergence of a carbon-constrained global economy. If the United States is to be a player and not a spectator in this new economic paradigm, it will have to adopt some form of national legislation to cap emissions.


  1. Some observers predict that these competitive impacts will prompt the EU to seriously consider imposing a carbon tax on imported goods manufactured in the United States without carbon controls. See "Global Warming: The Gathering Storm," , August 2004.
  2. See EC Directive 2004/101/EC of the European Parliament and of the Council, Oct. 27, 2004,

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