"Global" and "warming" are perhaps the two most important words used to justify the approaching governmental control of our economy. In reality, global warming is barely occurring: In the 30 years starting in 1977, warming amounted to 0.32 degree Fahrenheit per decade, and in the next hundred years it is estimated to be about half a degree per decade.

So global warming looks like neither the alarmists' serious threat, nor an immediate crisis that requires governmental control of America's economy to reduce it. Nevertheless the government solution to these increases--the Waxman-Markey bill, which passed the House earlier this year--is estimated to lower global temperatures only about 0.18 degree Fahrenheit in the next 90 years.

And now comes the new Boxer-Kerry Senate bill,...