An anticipated cap-and-trade system on greenhouse-gas emissions may have to be significantly altered and could even be abandoned altogether, according to the Associated Press:
More on this story here.Democrats in both the House and Senate have unveiled draft climate bills. But their supporters acknowledge that the bills may have to be changed, given the economic situation. For example, a proposal to auction off emission permits — a source of money to help refocus the nation's use of energy away from fossil fuels — may have to be abandoned with permits distributed for free.
But some Republicans argue the whole idea of a climate bill ought to be scrapped for the time being. Limits of carbon dioxide would increase energy costs and lead the country "off the economic cliff," said Rep. Joe Barton, R-Texas.
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