ENVR 2900 Lecture Notes - Lecture 7: Regional Greenhouse Gas Initiative, Great White Shark, Externality
18 Oct 2017
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Use of cap & trade to address acid rain problem; Addressing co2 emissions through cap & trade: rggi (regional greenhouse gas. Case #1: george bush (the first) presidency wanted to be known as the "environmental president" There was a problem with so2 from ohio valley going to lakes in canada ect. as aci. Introduced the cap & trade system (goal: reduce emissions to 9. 5m tonnes) 1st: set a cap of 18m tonnes of so2 emissions for power plants of the entire countr moved the cap down slowly. If company managed to reduce emissions and still have some pollutions permits le can sell their shares to others who need it and earn money. Charge people for polluting, but not as tax. Power plants emitting co2 - used a silent auction of allowance shares. Difficult to set up in small area (setting up auctions, drawing up permits etc. )
