McCain: It's not quote mandatory caps. It's cap-and-trade, OK. It's not mandatory caps to start with. It's cap-and-trade. That's very different. OK, because that's a gradual reduction in greenhouse-gas emissions. So please portray it as cap-and-trade. That's the way I call it.
How can you have cap-and-trade without mandatory caps? A cap is a limit. For a limit to be a limit it must be mandatory. Why would anyone purchase credits toward caps if there were no [mandatory] caps? What is up with McCain? Too much campaigning and not enough study? He needs more than quick briefs from his advisers.