By Chris Mayer in DailyWealth:

Right now, the so-called Waxman-Markey bill is snaking its way through the greasy halls of Congress.

"Waxman-Markey" is the name given to the new "cap and trade" bill designed to limit America's carbon emissions. It looks like it's the most expensive thing to hit the economy since the financial crisis began.

...I think the bill is absurd. I think it is also a great blow to what is left of American industry. But this is the way the world works. Politicians do dumb things. We have to play the ball where it is. And that means we have to figure out who wins and who loses.

Here are some thoughts along those lines...

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More insight from Chris Mayer:

Gold stocks will scream higher this year

This group of people could push gold to $2,000 an ounce this year

...and more on the destructive "cap and trade" idea:

Why "cap and trade" will be an unmitigated disaster

How carbon caps will create lots of jobs... lots of redundant, ridiculous jobs