A regional carbon cap-and-trade program was supposed to be a model for the nation. Lester Graham reports now environmentalists are hoping it doesn’t set a bad example for the federal government:
Transcript
A regional carbon cap-and-trade program was supposed to be a model for the nation. Lester Graham reports now environmentalists are hoping it doesn’t set a bad example for the federal government:
Ten northeastern states have been working for years on an agreement to reduce the emissions that cause global warming.
The Regional Greenhouse Gas Initiative limits the amount of carbon dioxide power plants will be allowed to emit and puts a price on carbon allowances.
But, the Governor of New York, David Paterson, is changing the rules for his state.
The New York power generators complained existing contracts don’t include all the costs of the allowances. So, Governor Paterson plans to give those power generators some free allowances. That puts the other nine states’ power companies at a disadvantage.
Luis Martinez is with the environmental group the Natural Resources Defence Council.
“You know, I’m wishing, I’m hoping that he changes his mind once he realizes how important this is not only for the people of New York, but as a precedent for federal policy-making.”
Martinez hopes the other governors in the Northeast don’t follow Paterson’s example.
For The Environment Report, I’m Lester Graham.