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Pataki Exit Won't Hurt US Carbon Dioxide Plan - New York

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  • Mike Neuman
    Pataki Exit Won t Hurt US Carbon Dioxide Plan - New York ... NEW YORK - A plan by nine Northeastern states to create a carbon dioxide emissions market similar
    Message 1 of 1 , Aug 5, 2005
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      Pataki Exit Won't Hurt US Carbon Dioxide Plan - New York

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      NEW YORK - A plan by nine Northeastern states to create a carbon
      dioxide emissions market similar to Europe's should not be hindered by
      the decision of its main proponent, New York Gov. George Pataki, to
      not seek a fourth term in 2006.
      Pataki invited other governors in 2003 to help develop a cap-and-trade
      program on carbon emissions from power plants in in a program called
      the Regional Greenhouse Gas Initiative.

      He announced late last month that he would not run for governor again,
      and his term ends at the end of the year.

      "RGGI continues to be one the highest priorities (of Pataki) because
      of the long term effects and benefits for the environment and public
      health," said Mike Frazier, spokesman for the New York State
      Department of Environmental Conservation.

      Not everyone is certain RGGI will survive after its leader leaves the
      governorship.

      "I have my doubts just because Pataki ... is on his way out and he has
      been one that has kind of trumpeted this," said Andrew Ertel,
      president and chief executive of Evolution Markets LLC, a coal and
      greenhouse gas emissions broker in New York.

      "I'm 50/50 on whether RGGI will go forward," he said.

      The United States dropped out of the 140-nation-strong Kyoto Protocol,
      which calls on developed countries to trim carbon emissions and sets
      up such markets. So, Northeastern states are hoping to create markets
      of their own.

      A similar group of states in the West is also planning to set up a
      carbon dioxide market and together both sets of states hope to bring
      the entire country into a carbon dioxide market.

      In cap-and-trade programs, power plants that don't wish to, or can't,
      cut emissions under set limits must buy credits from companies who
      have trimmed emissions.

      Carbon dioxide is the most prevalent of the greenhouse gases that
      scientists believe warm the Earth, causing flooding risks to low-lying
      nations and industries such as agriculture and tourism.


      Story by Timothy Gardner

      Story Date: 5/8/2005

      http://www.planetark.com/avantgo/dailynewsstory.cfm?newsid=31936
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