Yet another excellent piece by Megan McArdle.
Does the president actually expect any of this to happen? . . .
Whenever the deadlines do kick in, the new president will be besieged with desperate legislators and governors pleading to keep electricity prices from rising in these hard economic times. I can imagine a steadfast Democratic president standing up for the environment against utility lobbyists, coal-mining districts and electricity users, telling them that we need to do what’s best for the planet, not some narrow economic interest. But I can also imagine a beautiful world where everyone rides around in carriages driven by unicorns, angels sing in the trees, and purple raspberry pie grows on bushes outside your backdoor.