- Recent Regional Greenhouse Gas Initiative 2nd Carbon Credit Auction raised $117 million last Friday. Total amount comes to $263 million. (The Fed government is watching)
- Spoke too soon!? EPA now moves towards regulating greenhouse gases, as published in the New York Times.
- Wondering how a Federal Plan is going to look like? Here is a look at the East Coast and West Coast plans, side-by-side.
The East Coast Plan is the Regional Greenhouse Gas Initiative while the West Coast Plan in the Western Climate Initiative.
Emissions Covered
RGGI - CO2
WCI - 6 gases including CO2, methane & sulfur hexaflouride
States
RGGI - 10 in the East, led by NY
WCI - 7 in the West led by Cali; 4 Canadian Provinces
Effective Date
RGGI - 2009
WCI - 2012 for power plants and industry. 2015 for transportation.
Number of regulated polluters:
RGGI - 233 Power Plants
WCI - TBD
Emisison Cap Level
RGGI - 10% reduction by 2018 below 2009 levels
WCI - 15% reduction by 2020 below 2005 levels
Distribution of Permits
RGGI - about 90% auctioned
WCI - minimum 10% auction by 2014, min 25% auction after 2020
Offsets
RGGI - Limited to 3.3% of a generator's total emissions
WCI - No more than 49% of total emission reductions from 2012 to 2020
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