Despite being soundly rejected a few years ago, cap-and-trade will soon get its U.S. encore — but not in Congress. The Obama administration will likely use its executive power to unilaterally impose carbon dioxide emissions trading systems.

The Environmental Protection Agency will unveil regulations for existing U.S. power plants early next month. For months, onlookers have been speculating about what could be included in the EPA's rule for existing power plants.

But over the past few days it has become clear that the Obama administration will use the EPA to push cap-and-trade systems and other anti-fossil fuel policies on U.S. states. Administration insiders have told news outlets that cap-and-trade will likely be one of the options the EPA gives states to cut their carbon dioxide emissions.

The Wall Street Journal reported the EPA's proposal will "include a cap-and-trade component where a limit is set on emissions and companies can trade allowances or credits for emissions" to meet new federal rules. The Journal added that power plant "operators could trade emissions credits or use use other offsets in the power sector, such as renewable energy or energy-efficiency programs, to meet the target."

News reports say that the EPA will require states to reduce their carbon dioxide emissions from power plants by a whopping 25 percent in the coming decades. The new rules are set to be unveiled next week by President Obama himself, underpinning the significance of the new rules.

The EPA's emissions limits for existing power plants will put new burdens on coal-reliant states and raise electricity prices as more coal plants are retired. The U.S. Chamber of Commerce is set to release a study on the economic costs of the EPA's carbon dioxide regulations, which will likely be staggering.

"We anticipate it to be unprecedented in complexity and cost," Dan Byers, senior director for policy for the U.S. Chamber of Commerce's energy arm, told an audience last week.

The nation's biggest business lobby says President Barack Obama's plan to tackle climate change could cost the U.S. economy $50 billion a year.

The U.S. Chamber of Commerce and Natural Resources Defense Council are both releasing economic impact studies this week, signaling that the political battle over the president's plan will be fought over dollars and cents. For Obama, the risk is the plan gets labeled a job-killer just as campaigns heat up for an election that could determine control of the U.S. Senate.

In an analysis set for release today — days before the Environmental Protection Agency unveils a proposal to cut carbon dioxide emissions from power plants — the Chamber says that an ambitious pollution-control effort could force more than a third of the coal-fired power capacity to close by 2030, resulting in economic losses of $50 billion a year and the elimination of 224,000 jobs.