Carbon Dioxide Auction Launches U.S. Effort to Combat Climate Change

Friday, September 26, 2008 - 13:35 in Earth & Climate

Power plant owners and speculators yesterday bid for the right to emit carbon dioxide (CO2) as part of a new multistate government program designed to reduce global warming pollution. Interested parties during an online auction offered at least $1.86 per ton of CO2 emitted; there were 12 million allowances (one per ton) to emit climate change–inducing CO2 from power plants in eastern seaboard states from Maine to Maryland available in a market known as the Regional Greenhouse Gas Initiative (RGGI, pronounced "Reggie.") [More]

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