During the State of the Union address earlier this week, President Barack Obama spoke at length about clean energy, with nary a mention of climate change. This is the new environment in which America's energy policy is being made.

Just two years ago, Democrats were rallying to combat climate change, one of the most worrying challenges the country faces. But now, Obama has apparently given up his plan to openly fight climate change during his presidency. It's hard to imagine how, even in a second term, he would choose to re-fight the lost battle to create a cap-and-trade system.