Carbon Auction Nets $106.5 Million For 10 States
The nation's second auction of carbon dioxide emissions allowances yielded $106.5 million for the 10 northeastern states in the Regional Greenhouse Gas Initiative.
Pete Grannis, the organization's chairman, says the results prove that distributing allowances through auctions in a carbon dioxide cap-and-trade program can be successful. RGGI is seen as a blueprint for a national program to curb global warming by reducing carbon emissions.
RGGI reported Friday that all 31.5 million allowances, each representing a ton of carbon, were sold in the auction Wednesday for a clearing price of $3.38 per allowance.
RGGI includes Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont.
This program aired on December 19, 2008. The audio for this program is not available.