Sulfur Trading Under the 1990 CAAA in the US: An Assessment of First Experiences
In the US the first stage of a federal system of tradeable sulfur allowances started on January 1, 1995. This article assesses the first experiences with the program. The design of the program is set out and contrasted with the earlier EPA (Environmental Protection Agency) emission trading program. The market performance of the allowance market in the period 1992 to 1996 is evaluated, and expected developments in the next decade are described. Bottlenecks in market performace, cost-effectiveness and environmental effectiveness are discussed. We conlude that the market for sulfur allowances has performed quite well.
Volume (Year): 153 (1997)
Issue (Month): 2 (June)
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