How quickly things can change -- a year ago it looked like the US would follow Europe and we'd be legislated into a cap and trade economy. There was considerable talk about the implications this would have on prices, etc ... What a difference a year makes .. the change in Washington was followed almost immediately by the collapse of the Chicago Carbon Exchange, an entity in which Al Gore has invested. So what is the future of cap and trade? Short term death is a near certainty but longer term, only time will tell.
The concept of cap and trade is interesting to say the least. The idea being that those that are inefficient in their processes can get credits from those that have found ways to be more efficient -- carbon credits become a currency of sorts -- but the hope is that overall world impact is an improvement in overall emissions and environmental impact.
So lets see what comes next and see how the US reacts as other countries continue on their legislative approach to cap and tax -- I mean cap and trade.