The Climate Change Showdown: Dealmaking Begins Anew with Bill in U.S. Senate | GreenBiz.com

The Climate Change Showdown: Dealmaking Begins Anew with Bill in U.S. Senate: "President Obama promised during his campaign last year to auction 100 percent of cap-and-trade 'allowances' -- permits for every ton of greenhouse gases released into the atmosphere. The sale of these allowances to polluters was slated to fund the largest investment in renewable energy in history. The president has backed away from that commitment, and these allowances have become a new currency with which members of Congress barter for support." [our italics]