How bad is the Peterson-Waxman deal on climate legislation?

Surprising no one—but disappointing many—House energy chief Henry Waxman (D-Calif.) has caved in to the demands of the the agribusiness industry over the climate bill.

In reality, he had little choice if he wanted his legislation to get through the House. For more than a month, House Ag Committee Chairman Collin Peterson (D-Minn.)—an unabashed proponent of agribusiness interests—has thundered and roared about how no climate bill could get through the House without containing his agenda.