Ding dong! Cap and trade is dead 

Well, the job-killing proposal is dead for the time being, anyway:

Senate Majority Leader Harry Reid (D-Nev.) will bring a limited package of oil spill response and energy measures to the floor next week, delaying action until at least this fall on a broader proposal that would impose greenhouse gas limits on power plants, senior Senate Democratic aides said.

Aides insisted Reid’s decision is a nod to the packed floor schedule the Senate faces before it leaves in two weeks for the August recess, and that he he has not abandoned plans to try and bring up a broader climate and energy plan later in the year.

Ezra Klein, however, is pretty pessimistic about the future of carbon cap legislation, noting that Harry Reid is even afraid to say the words “cap and trade.” Meanwhile, Duke Energy and other companies who have made huge financial bets on the legislation are still pleading with Democrats to move forward with the legislation.

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Mark Hemingway

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