We must begin by acknowledging two current political realities. First, voters strongly believe that Washington needs to fundamentally change the way it does business. This manifests itself, in the abstract, in a robust appetite for fiscal discipline and cuts to government spending. A recent Gallup poll shows that...

Emboldened by their new majority, Republicans in Congress, led by new House Energy and Commerce Chairman Fred Upton, are aggressively pushing efforts to strip the Environmental Protection Agency (EPA) of its ability to regulate various forms of air pollution, including carbon dioxide.

After the demise of legislation to enact...