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Posted Tue Sep 30 2008: from Associated Press:
Nation's first greenhouse gas auction nets $38.5M http://apocadocs.com/s.pl?1222780835
ALBANY, N.Y.—The nation's first cap-and-trade greenhouse gas auction raised nearly $40 million that will be spent by Northeast states on renewable and energy efficient technologies. Under the Regional Greenhouse Gas Initiative, or RGGI, all fossil fuel-burning power plants in a 10-state region are required to buy credits to cover the carbon they emit. The results of the first of a series of quarterly auctions were released Monday. The initiative is viewed as a possible model for a national program to reduce emissions of carbon dioxide, a gas blamed for global warming.
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