'Hope and Change' in a 'Precautionary Principle' Administration

If there is one lesson I learned from the debates over how to stop the flow of oil into the Gulf of Mexico during the BP oil spill, it is how strongly committed the Obama administration is to the "Precautionary Principle."  They are definitely not alone in their devotion to this principle.  As the Wikipedia article notes, the European Union has codified it into law, and it is an outgrowth of Declaration #15 of the Rio Conference or "Earth Summit" of 1992.  While I will not go into all the arcane intricacies of the "strong precaution" versus "weak precaution" found in that article, suffice it to say the administration falls into the strong precaution camp. Strong precaution holds that regulation is required whenever there is a possible risk to health, safety, or the environment, even if the supporting evidence is speculative and even if the economic costs of regulation are high.[9]:1295-96 In 1982, the United Nations World Charter for Nature gave the first international...(Read Full Article)