Coyote Blog: Proof Positive Legislators Don't Understand Even the Basics of Economics

...So I thought this provision was hilarious:

The bill tries to address the economic concerns by excluding small businesses and increasing the number of [CO2 emissions] permits when prices spike.

So when permit prices go up, they will increase the number of permits. But permit prices will necessarily go up if they are doing their job of limiting emissions below current levels. So, in effect, they are saying that if the permit process really does start limiting emissions, new permits will be issued to to allow more emissions.