As U.S. costs of production rise, manufacturers will be sorely tempted to move their operations overseas where production costs are lower in a move to remain competitive. What happens to U.S. jobs lost by such relocation? Will tariffs be imposed on overseas produced items to overcome the cost advantage of of goods produced there?

More fundamental is the question of why we need cap and trade to begin with. Many thousands of scientists are on record as disagreeing with Al Gore and the global warming alarmists about anthropogenic emissions of carbon dioxide as the reason for global warming. These scientists see no discernible benefit from a cap and trade policy so far as global warming/climate change is concerned. To the contrary, eminent scientists who have researched carbon dioxide's effects, believe that its effects are beneficial, not harmful.

Also, do we need more beauracracy in the EPA and the Treasury Department to solve a non-problem?