A hopeful sign: it looks like President Obama really is going for a “cap and auction” system for combatting climate change. The Wall Street Journal reports that the administration’s proposed budget includes revenues from selling carbon emissions permits to emitters…
Mr. Obama will unveil the budget blueprint that tips his hand on long-term tax, entitlement, energy and health-care policies…[The budget] would include revenue from a planned greenhouse-gas-reduction effort in which businesses would have to purchase permits from the government to emit carbon dioxide and other emissions contributing to global warming.
This isn’t too surprising, since it’s exactly what he campaigned on. Still, it’s good to see that his early experience with the DC sausage factory hasn’t dulled his ambitions for a fair and effective climate policy.
Update: Or, uh, maybe not so much.