Murdering cap-and-trade

If US President Barack Obama wins reelection he will try to revive cap-and-trade regulation. He made fighting global warming and rushing exotic energy forms to market twin priorities of his first term. But a legislative push to make cap-and-trade the core mechanism for pursuing his goals failed. Now a fallback administrative strategy faces legal challenges. Given a second term, therefore, the president would renew his quest for a legislative program to cap greenhouse gas emissions and allow trading in allowances for the right to exceed the limits. He would try even though he murdered the program intellectually in his last campaign for political office. Obama foreswore legitimacy of a reci...

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