Economist: “THE one approach I will not accept,” said Barack Obama in June of Congress’s faltering efforts to fight global warming, “is inaction.” Instead, the president instructed America’s lawmakers to “seriously tackle our addiction to fossil fuels”. Yet the energy bill unveiled by the Democratic majority in the Senate on July 27th does nothing of the sort. Harry Reid, the majority leader, having earlier abandoned as hopeless an effort to limit America’s emissions of greenhouse gases through a …