U.S. budget to have CO2 revenues by 2012 | Top News | Reuters

WASHINGTON (Reuters) - U.S. President Barack Obama's budget accounts for revenues from an emissions trading system in 2012, White House spokesman Robert Gibbs said on Tuesday.

"That's true," Gibbs said when asked whether a cap-and-trade system for greenhouse gases would be in place in time for revenues to be generated by 2012.