There has been no global warming for 16 years. All the predictions of the climate models have been wrong. The global warming alarmists have no explanation. Even if current action were justified, the case for unilateral action (that doesn’t include china, India, etc.) is almost non-existent. And, for the time being, the case for watchful waiting is much stronger than the case for incurring economic costs today to avoid the consequences of warming 100 years from now.
But if there comes a time when action is justified, almost everything the federal government and the state of California and the city of Los Angeles are doing is the wrong thing. As Greg Mankiw wrote in the New York Times:
Among economists, the issue is largely a no-brainer. In December 2011, the IGM Forum asked a panel of 41 prominent economists about this statement: “A tax on the carbon content of fuels would be a less expensive way to reduce carbon-dioxide emissions than would a collection of policies such as ‘corporate average fuel economy’ requirements for automobiles.” Ninety percent of the panelists agreed.