A utilities-only cap-and-trade

The big movement on the climate-change bill today is that various power players -- including, most importantly, Rahm Emanuel -- are talking up a "utilities-only cap-and-trade bill." To put this in the simplest terms, it would mean that we price carbon in utilities but not cars. As it happens, this isn't as big a deal as you might think. As this graph from Harvard's Robert Stavins shows that cap-and-trade would, in the first 20 years, primarily affect utilities anyway:

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