Obama gives up on cap-and-trade to curb climate change - Monsters and Critics

Washington - US President Barack Obama has officially given up hope of enacting a cap-and-trade plan to limit the emissions of greenhouse gases that are blamed for global warming.

The system that would have made companies pay for climate-changing pollution was not included in Obama's 2012 federal budget proposals presented on Monday to Congress. Cap-and-trade had been a part of previous budget proposals but never passed Congress while Obama's own party still held large majorities in 2009-10.