Cap And Trade In Perspective: Carbon Trading In The Northeast

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dontcapandtrade

Don’t Cap and Trade!

Ten Northeastern and Mid-Atlantic states are operating the Regional Greenhouse Gas Initiative program and the result is a proof that a mandatory cap-and-trade program to address greenhouse gas emissions could be effective in the United States. The goals of the program are modest. It regulates one greenhouse gas and covers power plants that generate at least 25 megawatts. There is a current cap on emissions at current levels through 2014. The cap is reduced by 2.5 percent annually for four years at which a 10% cut would have been achieved by 2018. Judi Greenwald, the vice president for innovative solutions at the Pew Center on Global Climate Change thinks it is a “remarkable achievement” for 10 states to overcome their difference and comply with emission reduction.

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