Bill Targets Potential Abuses In Carbon Market

Law360, New York (March 25, 2009, 12:00 AM EDT) -- Two House Democrats have introduced a bill that aims to curb dramatic price swings in a future cap-and-trade carbon market in the U.S.

The Safe Markets Development Act, or H.R. 1666, was introduced by Reps. Lloyd Doggett, D-Texas, and Jim Cooper, D-Tenn., on Monday and aims to ensure that any future market for carbon allowances cannot be abused by market speculators or be put at risk by extreme price volatility.

Establishing a cap-and-trade system as part of efforts to tackle climate change is a key element...
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