Regional cap-and-Ttade effort seeks greater impact by cutting carbon allowances

Most programs that affect, or purport to affect, the public’s way of doing business, at least publicize themselves a bit so as to gain public understanding and support. As a resident of the Northeast, I will admit to having heard about this greenhouse gas project only dimly. So, anyway, here is the glitch: The regional Greenhouse Gas Initiative has cut the number of allowances that electric power companies can buy to offset their emissions. Like PPL’s Montour coal-fired plant in central Pennsylvania. The decision, made last week, was intended to shore up the pioneering program as it undergoes its first big progress review this year. While the program has been judged a success by most of the participating states, in the Northeast and Mid-Atlantic, an oversupply of the allowances — in essence, permits to pollute — has limited the program’s impact. The NY Times offers this coverage.

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