Cap-and-trade legislation akin to McCain-Lieberman has been dead for some time, and Obama's one of the guilty parties. McCain has shown little interest since 2009 in taking the lead on global warming legislation, while Lieberman is off in retirement. So far, the only lawmakers even proposing bills that look like McCain-Lieberman are liberal lions like Sens. Barbara Boxer and Bernie Sanders, not exactly hope for bipartisan legislation. It's not clear Obama will invest any political capital to push for that or other climate change legislation. Any action on the issue will likely have to come from the president alone, via executive order and regulations that will no doubt be controversial.
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