US States and Canada Consider Cap and Trade

From Bloomberg.com  - California, New Mexico and 10 U.S. Northeastern states may try to create a North American carbon market on their own now that President Barack Obama has given up on cap-and-trade legislation that stalled in Congress. The emissions-trading system would be based on a planned carbon market in California, the most populous state, and an existing regional cap-and-trade program for power plants in the Northeast, according to state environmental officials. Three Canadian provinces have also shown interest in a cross-border carbon-trading system, the officials said. “The key is to have as large and as liquid a market as possible,” John Yap, British Columbia’s climate-change minister, said in a telephone interview. Under cap-and-trade, the government creates a market for pollution rights by issuing a limited number of carbon-dioxide permits, which companies can buy and sell. More here

US States and Canada Consider Cap and Trade