In comments made at a Nashua, N.H. town hall meeting Tuesday, President Obama, for the first time, signaled that legislation requiring payment for greenhouse gas emissions may need to be separated from a “green jobs” initiative. The admission is a retreat from a climate bill priority for the Obama Administration and may signal the demise of cap and trade.

The comment was part of President Obama’s response to a question asked about green jobs and cap and trade- a system that would cap emissions of green house gases. "The only thing I would say about it is this: We may be able to separate these things out. And it's possible that that's where the Senate ends up."

The departure is a sign that the Administration is willing to adopt new strategies backing away from unpopular initiatives.  Public dissatisfaction with Obama’s focus on topics such as health care and climate legislation helped cost Democrats their filibuster-proof Senate majority last month.

Source: Wall Street Journal