Cap-and-trade system for carbon dioxide allowances

That sounds intimidating! But Governor Schwarzenegger and Tony Blair are making plans to create a trans-Atlantic strategy to move toward cleaner technologies. If established, the trading system would join Europe's mandatory system, along with a voluntary system created by Northeastern U.S. states, and the Chicago Climate Exchange, a privately run, voluntary national system. Emissions trading is an administrative approach to providing economic incentives for reducing pollutants.

For more info check out Wikipedia Emissions Trading, The Mercury News or the Wall Street Journal