As much of the Midwest suffers through the largest drought in 50 years, there is a renewed focus on global warming, and whether it may , or may not, be contributing to high temperatures.
Here in the Northeast, we can actually claim a small victory against global warming. Carbon dioxide emissions are dropping much faster than experts predicted they would just three years ago.
Part of that decrease may be due to the cap and trade program called the Regional Greenhouse Gas Initiative, or "Reggie". Nine Northeastern states are a part of the program that charges power plants for the right to emit carbon dioxide, and allows them to trade those rights at market price.
Now those states are considering revisions to RGGI. A coalition of over 300 Northeastern businesses, academics, and environmental groups are calling on the governors, including Governor Patrick, to lower the carbon cap even further. The problem is that the current system doesn't actually give power plants an incentive to reduce emissions any further.
- Jeremy McDiarmid, Massachusetts Director for Environment Northeast
- Bob Rio, senior Vice President of Associated Industries of Massachusetts.
This segment aired on August 14, 2012.