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That Washington Post reports that the Obama administration has all but caved on the principle of auctioning 100% of emission credits in a cap-and-trade system:

The Obama administration might agree to postpone auctioning off 100 percent of emissions allowances under a cap-and-trade system to limit greenhouse gas pollution, White House science adviser John P. Holdren said today, a move that would please electricity providers and manufacturers but could anger environmentalists.

….”The idea, obviously, is to end up with a bill that reflects both the thinking of Congress and the administration, a bill that the president can sign,” Holdren said, adding that when it comes to a 100 percent auction, “Whether you get to start with that or get there over a period of time is something that’s being discussed.”

Getting there over time is what the Europeans tried, of course, and it was a disaster.  Basically, it meant nearly a decade of wasted effort until they finally got close to a 100% auction.  Blecch.  Still, at this point I suppose I’ll be grateful if we put any kind of plan in place at all, since I assume the one thing we will get 100% of is Republican opposition.

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

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