What Will Offshore Drilling Mean for Cap and Trade?

From the Atlantic Wire here is an article examining the effect offshore drilling will have on cap and trade.

As the dust settles after President Obama's shocking announcement that he would open offshore areas to oil drilling, observers are wondering what the move will mean for cap and trade. The Democrats' prized climate legislation passed the House long ago but has been stalled in the Senate for months, despite the "trilateral" proposals put forth by Democrat John Kerry, Republican Lindsey Graham and Independent Joe Lieberman. Will the offshore drilling, long a demand of conservative Republicans, pave the way for Democrat-friendly climate legislation such as cap and trade? Will it doom that effort? Or will it simply make the resulting bill more watered down?

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