The Devil Is in the Details

Obama is encountering difficulty with his own party on the “public option” for healthcare. But that’s nothing compared to what’s going on with cap-and-trade. It seems Democrats have figured out (more or less) what’s in the legislation and there is something for everyone to dislike:

Democratic allies remain at odds over provisions of a House climate bill and a Senate energy bill, even as congressional leaders and Obama administration officials are pressing to complete work on the legislation.

And there are fights over the bill’s impact on agriculture as well as provisions on nuclear power, the renewable electricity standard, and coal. Then there are the Republicans who don’t like any of it — the mind-numbing regulation, the taxes or the compliance costs on state and local government and private industry.

That leaves an open question: who is for this other than Rep. Henry Waxman and environmentalists from non-energy producing states? Come to think of it, I haven’t heard Obama give a speech in favor of it. Perhaps its only utility was as a funding mechanism for healthcare. Which raises yet another question: if cap-and-trade crashes and burns won’t they still need hundreds of billions of dollars in additional revenue to pay for healthcare?