The Bush administration, under pressure from both U.S. business interests and foreign allies, is exploring a range of options to address climate change, including some form of economywide emissions caps, The Wall Street Journal reports.

Treasury Secretary Henry Paulson and other top officials met last week to consider the economic impacts of congressional proposals for domestic caps. A person familiar with the situation said Paulson indicated openness to the idea, although officials later disagreed.

In addition, an Energy Department advisory panel that includes a number of oil-industry executives said last week that as Washington moves to constrain greenhouse-gas emissions, policy makers should enact an economywide mechanism.