Dirk Forrister, president of the International Emissions Trading Association and former climate adviser to President Bill Clinton, comments on President Barack Obama’s plan to limit emissions from existing fossil-fuel power plants. He spoke today by phone from Geneva.
On the plan to regulate U.S. emissions using the Environmental Protection Agency:
“It was a pretty bold step. I fully expect Congress to try to invalidate the regulation” of emissions by the EPA.
“I don’t think Congress has the votes to stop the administration.”
On how some states may use carbon markets to cut costs of meeting emission limits:
“The states have some discretion to adapt the implementation of the plan to their own circumstances. It does create an opening for states interested in market-based measures. If they can get past partisan bickering, market-based solutions may be better.”
Adopting and enforcing emission standard rules for power stations will probably be more “burdensome of regulators” than carbon markets would be, he said.
On a European Parliament compromise plan to limit supply in the region’s carbon market, which includes an element to set aside funds from allowance sales:
EU nations “guard jealously” their role collecting revenue and taxes, Forrister said. The measure will probably receive “pushback from member states.”
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