Sorry, Congress, you are no longer needed.
Via Daily Caller:
Despite being soundly rejected a few years ago, cap-and-trade will soon get its U.S. encore — but not in Congress. The Obama administration will likely use its executive power to unilaterally impose carbon dioxide emissions trading systems.
The Environmental Protection Agency will unveil regulations for existing U.S. power plants early next month. For months, onlookers have been speculating about what could be included in the EPA’s rule for existing power plants.
But over the past few days it has become clear that the Obama administration will use the EPA to push cap-and-trade systems and other anti-fossil fuel policies on U.S. states. Administration insiders have told news outlets that cap-and-trade will likely be one of the options the EPA gives states to cut their carbon dioxide emissions.
The Wall Street Journal reported the EPA’s proposal will “include a cap-and-trade component where a limit is set on emissions and companies can trade allowances or credits for emissions” to meet new federal rules. The Journal added that power plant “operators could trade emissions credits or use other offsets in the power sector, such as renewable energy or energy-efficiency programs, to meet the target.”