State takes part in carbon auction
Posted by Jeff Quinton on September 22, 2008A coalition of 10 northeastern states, including Maryland and Delaware, will take steps this week to check global warming.
The coalition, called the Regional Greenhouse Gas Initiative, will conduct the nation’s first carbon auction, taking the same approach that curbed lake-killing acid rain.
Environmental groups, energy producers, and government leaders will be watching Thursday’s sale closely. It’s the first of a series of quarterly online auctions.
The cap-and-trade greenhouse gas reduction program aims to hold carbon dioxide emissions steady through 2014 and then gradually reduce them.
It is widely viewed as a model for future programs around the globe.
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