China Breaks with Climate Crusaders

China prudently recognizes that mandatory reductions in greenhouse gases will reduce GDP and punish economic recovery and future prosperity. President Obama projects government receipts of $646 billion from a new national carbon trading (taxing) system to mitigate greenhouse gases. Such “cap-and-trade” systems have been tried in the EU since 2005, and have failed both market and environmental goals. Ironically, Obama, his Climate Czar and his ambitious Climate Cabinet could learn a lot about capitalism from the Communist Chinese. Including the realization that during global economic recession:
1. Carbon cap-and-trade schemes will not pass Congress, and ;
2. Without controls on all global greenhouse gas emitters, nothing the US does in the way of costly greenhouse gas reductions will impact climates.

Lobbyists Battle Over Climate [Swindle] Bill's Escape Hatch on Carbon Penalties - NYTimes.com

A provision in the House climate bill that offers a controversial hedge against high costs for curbing carbon is a top target for lobbyists -- with one pack fighting to expand it and another to strip it out.

The focus is on emission offsets.

Climate Change Conference Ends Without Agreement - washingtonpost.com

United Nations conference on climate change -- intended to lay the groundwork for a global agreement on greenhouse-gas emissions in December -- concluded today with negotiators little closer to a deal.

The conference in Bonn, Germany, follows a U.S. House committee's passage of a bill to cap American emissions. The bill's sponsors had hoped it would inspire the world to take serious action against climate change.

That didn't happen.
...
"Parties are not agreeing, but they're disagreeing in a very polite and civil way," said diplomat Michael Zammit Cutajar, who chaired a panel at the talks, in an online press briefing.