E2 Round-up: The budget, cap and trade, and Copenhagen

President Barack Obama’s budget proposal dominates political coverage on Tuesday morning, with various economic sectors and Washington lobbies weighing where they stand.

Reuters says clean tech companies welcomed nearly $2.4 billion in funding, which is a $113 million increase over what it got in the budget a year ago. Some analysts, though, said still more is needed for clean-tech, “which struggled in 2009 amid the credit crisis and a dearth of available financing for new projects.”

The nuclear energy industry is a winner. The Energy Department's is seeking an additional $36 billion in loan guarantee authority, raising the total to $54 billion. But the budget also keeps an Obama campaign promise to end plans for Yucca Mountain to become the permanent repository for nuclear waste. The Christian Science Monitor looks at what that decision means for the sector.

Meanwhile, the Dallas Morning News tries to assess what the administration’s proposal to repeal $36 billion in tax breaks for the oil and gas sector means for Texas.

Obama's budget also includes a placeholder for cap and trade, in Greenwire. The budget calls for lawmakers to set up a “comprehensive market-based climate change policy” to curb heat-trapping emissions in the range of 17 percent below 2005 levels.

Ben also blogged about it yesterday.

Also, on climate change, countries submitted their goals for reducing emissions as called for in the Copenhagen accord struck in December. “In all, 55 developed and developing countries submitted emission reduction plans to the United Nations Framework Convention on Climate Change,” in the New York Times.

Time’s Bryan Walsh is encouraged by the development – kind of.