Zachary Scheidt's  Instablog

The political and financial message boards lit up late Friday after the House passed the controversial cap and trade bill. The bloggers have done an excellent job explaining why this bill could be extremely damaging to the economy and despite the rhetoric about creating "green collar" jobs, it will likely put more Americans out of work in the long-run.

While the bill was passed late in the day Friday in what appeared to be an effort to slide it under the radar relatively un-noticed, no one should be extremely surprised by the measure. The Obama administration has made it exceedingly clear that this would be an important part of his agenda and however misguided the bill may be, it has been expected for some time. Today I'll abstain from too many judgments as to the bill's merits and instead focus on the investment opportunities that will surface as a result of cap and trade initiatives.

Energy is the Obvious First Beneficiary