Sen. Lindsey Graham, R-S.C., reportedly told a group of environmental activists at a private meeting that "cap and trade is dead," sources said. Graham, along with Sens. John Kerry, D-Mass., and Joseph Lieberman, I-Conn., will reportedly unveil this month an alternative bill that would apply specific greenhouse-gas caps on different industries instead of a single nationwide target. The legislation may include separate greenhouse-gas targets for the major emission sources: electric utilities, transportation and industry.

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