While on the campaign trail, then candidate Barack Obama promised to use revenues generated by auctioning off pollution credits to pursue cleaner sources of energy.

We last reviewed the status of this promise in August 2009, when we rated it In the Works. The House had passed a comprehensive energy bill in June 2009. In the Senate, Sen. John Kerry, D-Mass., and Joe Lieberman, I-Conn., released their own version of a cap-and-trade bill in May 2010.

As the November elections get closer, however, it has become more difficult for Congress to pass controversial legislation, so we wanted to see how things have been moving along on the cap-and-trade front.

As it turns out, cap-and-trade has hit a major roadblock. On July 22, 2010, Democratic leader Harry Reid told reporters that Democrats simply "don"t have the votes" to pass a comprehensive bill that would put caps on greenhouse gas emissions. Instead, Reid, D-Nev., introduced a scaled-down energy bill that would remove the $75 million liability cap on economic damages from an oil spill, increase funding for the Oil Spill Liability Trust Fund and fully fund the Land and Water Conservation Fund. It would also would provide $5 billion in rebates to encourage homeowners to make energy efficiency upgrades and encourage the retrofit of the nation's heavy vehicle fleet to use natural gas, according to the bill summary. The bill does not contain any cap-and-trade provisions.

Talking to reporters August 31, 2010, Reid said that cap-and-trade "doesn"t have the traction that a lot of us wish it had."

So let's recap. Obama said that he will use revenues from cap and trade to support clean energy and environmental restoration. The Democratic leadership has acknowledged that it does not have the votes to pass legislation that includes cap and trade. Still, the whole point of this promise is to use the money generated by cap and trade to invest in energy efficiency improvements, help develop the next clean energy vehicles and provide new funding to restore environmental habitats. The Reid energy bill addresses all of those goals in some way. We'll keep watching, but for now, we rate this a Compromise.