Obama's speech tonight highlighted the climate and the budget, and a 'sneak preview' of the budget tells us that the carbon emissions system that will be in place will be the cap and trade system.
This was obviously the way that things were going. When I attended the Regional Greenhouse Gas Initiative meetings here in the Northeast, everyone was fussing about what system the Federal Government was going to adapt.
Tufts University put out a publication showing the costs of global warming and it really tells one story: It is imperative for the US (+ China) to act immediately. The Environmental Defense Fund also releases some interesting numbers that I am going to write about tomorrow.
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