Senate Democrats Pull Plug on Cap and Trade



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Senate Democrats conceded Thursday that they do not have enough votes to pass "cap and trade" climate change legislation, and are shelving efforts to cap greenhouse gases indefinitely. Instead, Senate Majority Leader Harry Reid (D-NV) will move forward next week with a drastically limited energy bill that would increase liability costs for oil companies in the wake of spills such as the one in the Gulf of Mexico and that would create additional incentives for the purchase of both natural gas powered vehicles and products that can be used to reduce energy use in homes.