As lawmakers debated whether to raise US energy prices last week, a new government report reminded Americans how much governmental misjudgment costs. The Senate began deliberation of the Climate Security Act, a complex bill that would cap emissions of greenhouse gases and foster trading of emission allowances. That the measure should come up while energy prices are setting records and the economy is tottering testifies to the political influence of fear about global warming. That serious people think the US might implement an aggressive cap-and-trade scheme without hurting energy consumers testifies to the power of alarmist propaganda.In April, the US Energy Information Administration est...