Apparently, via NRO’s Iain Murray:

“We’re hearing some very bad things about the President’s likely unconditional surrender on global warming today. One senior source suggested that the last line of sound defense had been breached and that “It will be very bad.” I’d imagine he will request, against all evidence from Europe that this does anything but make consumers poorer and utilities richer, a cap and trade regime for energy utilities.

I cannot emphasize too much how idiotic this is. At a time when the poor of the country and the world are feeling the twin crunches of credit being withdrawn and food and energy prices rising, jacking up energy prices farther will just add insult to injury. The fat cat traders of Wall Street will be licking their lips, of course. Meanwhile, House and Senate Republicans and (yes, some) Democrats who have stood up for the American consumer against this insanity will be left hanging. Those who voted for Bush in the mistaken belief they wouldn’t get Gore’s policies will have been betrayed. The political center on energy and environment will be jerked massively to the left. Some acheivement.

Mr. Bush, if you think this will secure your legacy, you are right. Your legacy will be just one word: Recession.

People need to get very, very angry about this. I know I am.”

We’ll see, but according to two sources I have within the “chain” it’s as bad as it sounds, a complete capitulation to Al Gore’s insanity. This is the curse of every president, the pursuit of “legacy”, but if Bush “throws in the towel” to “buy friends”, you had better get used to paying heavliy for it.