US Treasury to Help Fight Global Warming

From the geniuses who brought you the utter failure that was the TARP bailout – the Troubled Assets Recovery Program that neither bought  troubled assets, nor led to any recovery – comes the following:

“The U.S. Treasury and other finance ministries around the world should play a major role in fixing climate change, outgoing Bush administration Treasury Secretary Henry Paulson. “I will be actually surprised and disappointed if the Office of Treasury isn’t a leader — probably the leader — in the government in terms of having more resources and knowledge than any other place,” said Paulson, referring to research on alternative energy and climate change.”

Paulson has long been involved in fighting global warming; Steven Milloy, an author and the publisher of, a popular Web site critical of global warming alarmism, told that for Paulson, the “number one issue” is the environment. He said he expects Paulson to take an active role in combating climate change once his post at the Treasury expires. Stephen Milloy of notes Paulson is “just as extreme as Al Gore.”

And this is the guy Bush & Congress gave a virtually unlimited cheque with virtually unlimited powers to.

UPDATE: Myron Ebell from the CEI has a good post on this at It begins:

Secretary of the Treasury Henry Paulson took time out of his busy schedule wasting 700 billion dollars of taxpayer money (and thereby turning a credit crisis into a depression) to speak at Resources for the Future on Monday afternoon on the subject of how markets can address climate change and other environmental problems. What he meant of course is, how can markets be manipulated by government to achieve outcomes desired by government? He looked somber and did not laugh or smile at the pleasantries made when he was being introduced, but he didn’t look exhausted, worried, or baffled, either. I guess spending other people’s money, even when getting so little for such stupendous amounts, is always fun.”


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