The country's first auction of emissions permits set the price of releasing carbon dioxide into the atmosphere at $3.07 per ton. The Regional Greenhouse Gas Initiative, a consortium of 10 states in the Northeast, held the first U.S. cap-and-trade auction last week and announced the results today, the Associated Press reports. Under the program, companies buy permits to emit a certain amount of greenhouse gases, and if they reduce their emissions they can sell the permits to other companies for a profit.
Web pick posted by Neil Savage, Xconomy.com
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