In E&E News Daily PM today, Nancy Pelosi says that the House could pass cap & trade legislation this year except . . .

Speaking to reporters in the Capitol, Pelosi said she has sufficient backing in the Democratic-controlled House to move a cap-and-trade bill, but will not force the issue. “I’m not sure this year, because I don’t know if we’ll be ready,” Pelosi said. “We won’t go before we’re ready.”

Pelosi acknowledged the December deadline looming over U.N. negotiations toward a new international climate change agreement. “We’re sensitive to Copenhagen and the rest of that,” she said, referring to the Denmark capital that will host the next annual U.N. conference. “And it’s a very high priority for me.”

But Pelosi said she could not guarantee that President-elect Barack Obama would be able to sign a cap-and-trade law before Copenhagen.

“I would certainly hope so, but I can’t tell you that that is the case right now,” she said. “Of all the bills that we have done, you know I sort of know the policies, I know what the possibilities are, this is the most, should we say, controversial, not controversial, mysterious.”

Pelosi added, “There’s so many ways we can go. We’re seeing, studying what the Europeans did. They had to have some trial and error in what they did. And I think we have to be very careful, because we have to do it right, with cap and trade. We have to do it right. I don’t think we can take any chances. So this is going to take some very thorough scrutiny as to how we go forward.” . . .

Asked about her expectations for the timing of cap-and-trade legislation, Pelosi replied, “I don’t know what the timetable will be. A lot of that will relate to how quickly we get through the recovery, whatever else we’re doing, and when the bill will be ready. I don’t think it’s ready.”

Based on her last comments, it doesn’t seem so mysterious to me.