Cap and Trade

I read some discussion that cap and trade had the advantage of enabling the politicians to make more deals than would a carbon tax. I thought of that when I read Farm policy this morning, quoting Chris Clayton:

“People familiar with the situation who spoke to DTN said that [not mentioning agriculture much in the cap and trade bill] doesn’t necessarily mean Waxman sees no role for agriculture, but that Waxman may leave agriculture’s role in the bill to the House Agriculture Committee to add to the legislation. An amendment for agricultural offsets also could come up in Waxman’s full committee debate next week.”

Since Peterson is threatening to kill cap and trade unless ethanol is protected and promoted, that sounds as if there's a deal in the works.