Environmental Valuation & Cost-Benefit News
Want to Buy Some Pollution?
03/15/08
11:09:31 am, by damageva 
, 225 words, 217 views 
Categories: Energy, Climate Change GHG Carbon CO2, Legal, Fines, U.S., Europe, Companies,CSR,Business,Finance, Massachusetts, Newspaper/Mag/TV/Media Story, Regulatory Analysis, Costs and Benefits, Opinion (Not Likely Ours EV&CBN)
Want to Buy Some Pollution?
LATER this year, Massachusetts and other Northeastern states will hold the nation’s first auction of greenhouse gas emissions permits. Congress should take note: this market-based, technology-neutral auction is a model for how to encourage power generators to limit their emissions. And it could provide the foundation for a federal-state partnership to revolutionize energy use.
Auctions make sense. When Europe first tried regulating greenhouse gases under a cap-and-trade program, in 2005, it gave away, or “grandfathered,” emissions permits to its power generators, which made modest changes in their operations and then sold the permits to others at a premium. The result: windfall profits for the power companies. Europe is now switching to emissions auctions and plans to finance programs promoting climate protection, economic growth and energy security with the proceeds.
...
Here in Massachusetts, we have cut the annual growth in electricity demand by nearly one-third. Through rebates, incentives and low-interest loans, we’ve helped business and residential customers reduce their energy consumption and save money at the same time. As a result, Massachusetts has one of the highest gross state products per unit of energy used in the country.
By Ian Bowles, secretary of energy and environmental affairs for Massachusetts.
FOR FULL OP-ED GO TO:
The New York Times www.NYTimes.com
Op-Ed published March 15, 2008
http://www.nytimes.com/2008/03/15/opinion/15bowles.html?th&emc=th
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