Update: Maine, 6 other states, sign regional greenhouse gas draft rule

[jpak]

http://www.bangordailynews.com/news/t/news.aspx?articleid=143862&zoneid=586

ALBANY, N.Y. - New York officials have released preliminary draft rules for implementing the Regional Greenhouse Gas Initiative to cut power plant emissions of carbon dioxide, which are considered a major contributor to global warming.

Seven Northeast states, including Maine, agreed to set up a system designed to cut greenhouse gases through a cap-and-trade system of emission permits that would cover electric generating units with a capacity of 25 megawatts or more. States would issue one allowance, or permit, for each ton of CO2 emissions allowed by the cap. Companies that do not have enough allowances to cover CO2 emissions must either reduce their emissions or purchase allowances.

New York’s Department of Environmental Conservation this week issued a proposed draft rule that includes the auction of 100 percent of emissions allowances on the open market, an approach urged by some environmentalists. Public comments are due by Jan. 12.

Regional emissions of carbon dioxide would be capped at current levels — about 121 million tons annually — from 2009 to 2015. Incremental reductions over four years would then aim to curb emissions by 10 percent by 2019.

<not much more>

[YankeyMCC]

1. And our rethug gov

in Mass backed us out of this plan at the last minute.

Thank the voters he's off our hands in Jan. Although he's going to try and be on all our hands in '08.