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A Very Interesting Question: EPA Regulation of Carbon Dioxide Emissions

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Duncan Black asks:

Curious : It isn't something I follow closely generally, but I am a bit confused why the looming specter of EPA regulation hasn't melted some opposition to a decent climate/energy bill.

Exactly. If I were the energy industry or an energy-using industry, I would be absolutely desperately lobbying full-time for a cap-and-trade system rather than EPA-style regulation of carbon dioxide.

I suspect that the energy and energy-using industries are confident that the EPA will shy at the jump--that Obama doesn't want to get into a fight. But I don't see why they are so confident.