Events last week prompted us to move the meter on one of President Obama's top promises. During the 2008 presidential campaign, Obama said he would create a cap and trade system with goals to reduce global warming. Don't know what cap and trade is? The idea is that the government sets a limit on how much carbon different companies, such as electric utilities or manufacturers, can emit -- that's the cap. The government then issues permits for emissions to companies and allows them to buy and sell the permits as needed so they can conduct business -- that's the trade. ... >>More