New day on climate change

The lead editorial from the New York Times on January 27, 2009 lauds President Obama for repudiating the Bush administration’s passive approach to climate change.  Calling the decision one “of great significance,” the Times praised Mr. Obama for his commitment to countering the rise in greenhouse gases, and for his willingness to use the regulatory levers of the government to fight global warming.  While hailing Mr. Obama’s imposition of regulations, the Times notes that he still must make major investments in renewable technologies and, eventually, unlock private investment by putting a price on greenhouse gas emissions. Nevertheless, the Times crows, “this is a wonderful start.”