The Carrot Is Mightier Than the Stick

The Carrot Is Mightier Than the Stick

America has never achieved prosperity through regulation or taxation. Instead, our greatest advancements—from industrial revolutions to space exploration—have come by empowering innovators, rewarding risk-takers, and leveraging market competition. The same is true for meeting our energy needs and climate ambitions. If we want to lead the world in reducing emissions while securing economic growth and energy security, we must replace the stick wit…