What a difference an election makes

17 Nov 2010

In the spring, I blogged about Greenhouse Gas legislation “And They Said It Couldn’t Happen” that Congress was considering.  Well, it appears “they” were right.  While there are a number of informal regional efforts to control greenhouse gas emisssions, the biggest and the brightest of them was the Chicago Climate Exchange where greenhouse gas credits are already being traded. 

Three years ago, Michigan with 5 other states and 1 Canadian province signed the Midwestern Regional Greenhouse Gas Reduction Accord, an agreement calling for greenhouse gas reduction targets and the development of a market-based carbon cap-and-trade system. In May, the participants released their recommendations for structuring such a system. 

Recognizing the “sea change” of this past national election and the likelihood that  US greenhouse gas legislation will not come to a vote for the next two years, it has been reported that the Chicago Climate Exchange will be winding down as there will not be a source of credits to be traded.  In the meantime, China reportedly surges forward with clean coal initiatives.

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