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President Obama Backs Away From Cap-And-Trade, Looks For New Method

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Many environmentalists are teary-eyed today after President Barack Obama announced in a press conference on Wednesday that he would be ditching the controversial cap-and-trade bill — legislation that would put a limit on greenhouse gas emission, and allow companies to to buy and sell pollution permits.

The initiative barely passed in the House in 2009 and never even made it through the Senate.

“Cap-and-trade was just one way of skinning the cat; it was not the only way,” Obama said. “I’m going to be looking for other means to address this problem.”

Why the change in direction? 30 of the bill’s biggest supporters were voted out of the House on Tuesday when 50 Republicans replaced House Democrats.

“There are a lot of Republicans that ran against the energy bill that passed in the House last year,” Obama said. “And so it’s doubtful that you could get the votes to pass that through the House this year or next year or the year after.”

Is anyone else extremely frustrated with the government’s lethargic pace at dealing with the climate issue? It looks like we’re all going to be washed away before any real change happens. Le sigh.

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