Cap and Trade: Not Dead Yet!

After previously declaring carbon cap and trade legislation DOA, CNBC's John Harwood this afternoon discussed its future prospects. The Waxman-Markey climate bill emerged last night from marathon sessions of the House Committee on Energy and Commerce in a largely party-line vote.


Meanwhile, WaPo's business columnist Steven Pearlstein complains:
Climate-Change Bill Hits Some of the Right Notes but Botches the Refrain

Despite the charges made by many opponents of excessive cost, the NYT's Green, Inc. reports on a study that finds much of the revenue would be returned to consumers:
Climate Bill Would Generate $750 Billion for Consumers, Study Finds