Basically a scheme to sell carbon credits by the government to all carbon distributors such as oil companies, utilities, refineries, etc. Read this as a massive tax.

If they have excess carbon credits, they could be sold or traded.

Visualize another massive beaurocracy soaking up tax revenue whose mission is to make for less fuel but at the same time more expensive.

Both Obama and McCain support Cap and Trade.

I feel like I am in the Twilight Zone. We are doomed.