The economic slowdown is having one good effect

California tried to save the world again this week. Arnold Schwarzenegger, the state’s governor, rounded up politicians and officials from across the globe (expending quite a bit of carbon) and urged them to tackle climate change more aggressively. To set an example, he ordered state power companies to obtain one-third of their electricity from renewable sources by 2020. California is indeed leading the way in cutting greenhouse-gas emissions—but not for the reason it might want.

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Why a verdant New Deal would be a bad deal

Two pressing problems face the world: economic meltdown and global warming. Conveniently, a solution presents itself that apparently solves both: governments should invest heavily in green technology, thus boosting demand while transforming the energy business.

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