Cato Institute’s Pat Michaels explains the problems associated with cap-and-trade proposals

Dr. Patrick Michaels, senior research fellow for economic and policy development at George Mason University and senior fellow at the Cato Institute, outlines problems associated with the Waxman-Markey cap-and-trade legislation that cleared the U.S. House of Representatives in 2009. Michaels offered these comments during a July 18, 2011, speech to the John Locke Foundation’s Shaftesbury Society. To watch full-length presentations of John Locke Foundation events, click here.