How does water permit trading differ from pollution credit trading under the Clean Air Act?
These two ideas differ greatly. First, the pollution credit trading program is simply one part of a larger Clean Air Act program designed to significantly reduce sulfur dioxide and nitrogen oxides emissions from power plants. The first step in that program was to place a national cap on the total emissions of SO2 and NOx, and that cap has now been lowered even further. Next, power plants were given allowances that allowed them to emit a certain amount of pollutants under the cap. If the plants were able to change their operations so they produced less pollution than their allowances allowed, they could then sell those excess allowances to other plants. This trading system is based on a sophisticated monitoring system to ensure that actual reductions are being realized and that the allowances available are in fact real. Finally, this entire system is subject to external limitations, as no one plant can emit in violation of the Clean Air Act or state law, regardless of how many allowance
Related Questions
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