A Promising Idea for RGGI
(WorldNews Environment)

WASHINGTON-The Regional Greenhouse Gas Initiative (RGGI) is a market-based program that sets a cap on carbon dioxide (CO2) emissions from the electricity sector in nine northeastern states. Trading of emissions allowances is a proven way of achieving compliance with pollution goals at the least possible cost. Yet there has been one particularly persistent challenge for the program, which has otherwise been regarded as an overall success. Since RGGI`s outset in 2009, the price of emissions allowances has proven to be lower than most observers expected. Low prices suggest low costs for industry and consumers-which is a good thing-but when they are...