RGGI Carbon Auction Draws Praise, Doubts

Law360, New York (September 25, 2008, 12:00 AM EDT) -- The Regional Greenhouse Gas Initiative, a coalition of 10 Northeastern states, held the United States' first carbon auction on Thursday after more than five years of planning, drawing both praise and skepticism from advocates of cap-and-trade climate change policy.

RGGI said earlier this week that the first auction was to include over 12.5 million carbon dioxide emission allowances. Each allowance permits a source to emit one ton of CO2. In order to participate in the auction, bidders were required to submit a notice of intent by...
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