From Tom Nelson:

Actually, this is a gigantic point A Small, But Important, Difference In The Candidates’ Cap-And-Trade Plans
Incidentally, while the public clamors for drill, drill, drill, Mr. Obama wants high-cost, cap-and-trade carbon regulation enforced by the Environmental Protection Agency. Now, Mr. McCain also wants cap-and-trade, but not if India and China don’t go along. Apparently Mr. Obama will not be constrained by the rest of the world.I see no evidence that China or India will ever be stupid enough to buy into cap-and-trade. If we only do cap-and-trade if China and India go along, it almost certainly means that we won’t do cap-and-trade at all.

Yes, if Obama is elected president, he will go ahead with cap-and-trade unilaterally. But remember, thanks to his running mate Joe Biden’s foreign-policy bona fides and mature statesmanship, China and India will no doubt sign on soon after.