President Bush's Environmental Vision Deserves Praise

"Even so, if Mr Bush is to burnish his green credentials, he needs to do more to turn fine visions into practical actions. He has given a glimpse of the right strategy...He is spot on in denouncing an overly centralised approach to greenery, and in pushing instead for market-based solutions. The success of pollution taxes in Europe and of emissions-trading systems for sulphur dioxide in America show that these are a far better way of encouraging innovation than technology mandates or direct subsidies."