Poor Political Climate

The world is getting hotter. The majority of climate experts are worried about the rising temperatures and carbon emissions may be the culprit. At the very least, the global hunger for energy is going to cause traditional carbon-burning power sources to see a rise in price. The time seems right for action to create a new, "greener," energy system.

When Barack Obama won the presidential election in 2008 and was then met with a majority of his party in Congress, the prospect of seeing legislation that would support and incentivize business to cut down on carbon emissions seemed likely. However, since that time there has been little progress in the political system to change our carbon emissions.

Bloomberg Business Week editor Eric Pooley spent over two years embedded with the power players in the environmental and energy policy battle of cap and trade. Eric Pooley says that even though conditions seemed good to institute new rules to help cut emissions and boost a new "green" industry, that risks weren't taken and deals fell apart.

LISTEN: ERIC POOLEY - CLIMATE WARS