Sunday, July 10, 2011

EPA Tries to Reboot the Acid Rain Trading Program

I've been too busy (with the move, knee surgery, and all) to keep up with EPA's new sulfur dioxide and nitrogen oxide regulations under the Clean Air Act, which were finalized this past week (see here). These rules are especially important because the extremely successful acid rain trading program has been moribund for more than a year, largely because of legal uncertainties stemming in part from a 2008 court ruling overturning the 2005 Clean Air Interstate Rule (CAIR). I  previously posted (here and here) on the death of trading under the acid rain program.

Instead of describing the new rules myself (I haven't had time yet to actually read them), let me refer you to the description from economist Richard Woodward, which has been reprinted at the Environmental Economics blog (here). I may have more to say about the rules myself, once I've had a chance to read and digest them.

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