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Examples
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Air-pollution, sea-pollution, acid-rain and other forms of threats may one day overwhelm our very existence.
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The U.S. acid-rain trading program is often cited as the first, large-scale effort by a country to combine environmental goals with a market system.
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"The acid-rain market continues to be relevant to the debate over CO2 because it is a successful model," he says.
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Using those allowances from the acid-rain market to meet the limits won't be allowed under the new rules.
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The current problems in the acid-rain market stem from 2005, when the EPA, with the backing of many utilities and environmental groups, announced major new reductions in smog-forming and soot-producing emissions, and expanded the reach of the cap-and-trade system in more than two dozen, mostly Eastern, states.
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The acid-rain market has been considered a success, helping to reduce sulfur-dioxide emissions by half.
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Many additional co-pollutants would also be produced, including lead, arsenic, mercury, smog-causing nitrogen oxide, and acid-rain forming sulfur dioxide.
Michelle Chan: U.S. Taxpayer-Funded Bank, Under Pressure From Obama Administration, Gives Green Light to Giant Dirty Coal Plant in India Michelle Chan 2010
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But as the acid-rain market shows, they need clear rules set by the government.
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With the release of those revisions last week, curbing trading and enacting strict new state caps, the acid-rain market isn't likely to recover.
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The acid-rain market isn't likely to recover from the new rules, people involved in the market say.
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