An incredibly important bill on climate change is being debated on the floor of the House today. The American Clean Energy and Security Act, whose lead sponsors are Rep. Henry Waxman (D-CA) and Edward Markey (D-MA) will cut carbon emissions by 17 percent below 1990 levels, promote investments in renewable energy sources, and implement the long-discussed “cap and trade” system for regulating greenhouse gas emissions. The bill is not perfect...