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Cap & Trade & Decline & Fall

Here it comes:

The Environmental Protection Agency on Friday formally declared carbon dioxide and five other heat-trapping gases to be pollutants that threaten public health and welfare, setting in motion a process that for the first time in the United States will regulate the gases blamed for global warming.

The E.P.A. said the science supporting its so-called endangerment finding was “compelling and overwhelming.” The ruling triggers a 60-day comment period before any proposed regulations governing emissions of greenhouse gases are published.

Remember, this will involve no tax increases on anyone making less than $250,000 a year. But those five or six guys who'll be left still earning that much, man, are we going to sock it to them.

UPDATE: Ed Driscoll calls it a "rendezvous with scarcity" in his latest Silicon Graffiti video.