Buffett's Charlie Munger Says Cap And Trade Is "Monstrously Stupid" (CLIP) (BRK)

Charlie Munger couldn't be much more blunt about his feelings towards cap and trade.

Berkshire Hathaway's (BRK) No. 2 says in an interview with CNBC that it'd be "almost demented" to do cap and trade, because it'd be a "huge shock to the economy," and it "wouldn't do much," since China emits the vast majority of CO2.
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Munger, though, if the past is any indication, doesn't really care to limit emissions at all. Here's his take on global warming from a 2007 investor meeting: "So what we are really talking about with global warming is dislocation. Dislocations could cause agony though. The sea level rising would be resolved with enough time and enough capital. I don't think it's an utter calamity for mankind though. You'd have to be a pot-smoking journalism student to think that."