Obama to Senate: Don’t give up on climate bill

The White House supports a “comprehensive” energy and climate bill that includes a cap-and-trade plan that creates a cost for emitting carbon dioxide, which Obama calls vital to boosting alternative energy.

“The market works best when it responds to price,” Obama said Wednesday.

But imposing mandatory limits on greenhouse gas emissions faces major Senate hurdles. Obama, at a town hall meeting in New Hampshire Tuesday, for the first time acknowledged that the Senate might drop emissions caps and proceed with only more popular energy provisions.