Lake politics: Cap-and-trade to wait

National climate change legislation that creates a market for carbon appears dead in the water. The Washington Post reports Sens. John Kerry, Joe Lieberman and Lindsey Graham plan to introduce legislation next month that would focus carbon controls on specific economic sectors, rather than on all businesses.

Any climate legislations would be a tough sell in this economic (and political) climate. But could the bipartisan group attract enough votes to override a Republican filibuster in the Senate? That remains to be seen.

A spokesman for Indiana Sen. Richard Lugar told the Post that the moderate Republican could support pricing carbon “potentially at some point, but not at the moment.”