No doubt you expect me to have something to say about the climate bill that dropped yesterday, and here it is: how can a bill that leaves unsettled the crucial question of the distribution of cap-and-trade permits and permit revenue still manage to be 600 pages long?

Here’s one potential answer: Title III of the bill is “Reducing Global Warming Pollution” while Title IV is “Global Warming Pollution Reduction Program.” Guys, that’s the same thing.

In fact, there’s a lot of stuff in the bill, some good, some bad, and much worth discussing. It’s all subject to change, though, so let’s just see how this develops.