U.S. Transition Hampers Talks on Climate Change - NYTimes.com

So far Mr. Obama has outlined a number of broad policies but provided few specifics or a timetable for implementing his ideas. He could propose a climate bill, but the kind of cap-and-trade system preferred by Mr. Obama for greenhouse gases would, by many estimates, take at least a year or two to hash out even with a Democratic majority in both houses of Congress.

“The fear is this could become a Clinton health plan, trying to do too much too soon, and ending up with nothing,” said Paul Bledsoe, a former Clinton White House staff member who is now with the National Commission on Energy Policy.

A Past President's Advice to Obama: Act With Haste - WSJ.com

Jimmy Carter Says New Administration Needs to Harness the Benefits of a Crisis Mentality to Tame Energy Policy

2006: Alarmist Steven Chu seems to endorse $70/ton carbon price

Once industry is assured that the bottom will not fall out (such as price of oil, gas, or the trading value of avoided carbon, etc., suddenly plummeting) long-term investments will be made. The wind industry in Denmark and Germany proceeded in this way. Off the top of my head, $70/avoided ton would work wonders in spurring long-term investments and innovation.