BTW, has anyone notice that the entire cap-and-trade system for controlling emissions in the US was vacated last month?
The law that set up that system is called CAIR -- the Clean Air Interstate Rule. And if you go the CAIR page at the EPA website:
Over in the top corner, very discreet, is a notice that the law got vacated. They've got a link to a pdf copy of the decision, and reading through it, it looks pretty solid. It looks like the whole scheme is probably dead unless Congress writes a new law. And good luck getting that to happen fast.
But except for a column by John Dizard in the FT, I haven't seen any mention of it anywhere. Hell, it's barely even mentioned on the EPA's own webpage. Do other participants think this is just a passing glitch? Is there a reason for their optimism? It seems odd that Obama and McCain were just talking about cap and trade a couple of weeks ago as if nothing had happened. Am I missing something? Or did something newsworthy just entirely fall through the newsgrid?
Michael