Tuesday, April 03, 2007

EPA Successfully Sued over Carbon Dioxide Regulation

WASHINGTON, April 2 — In one of its most important environmental decisions in years, the Supreme Court ruled on Monday that the Environmental Protection Agency has the authority to regulate heat-trapping gases in automobile emissions. The court further ruled that the agency could not sidestep its authority to regulate the greenhouse gases that contribute to global climate change unless it could provide a scientific basis for its refusal.

This is another indicator that CO2 will be regulated on the federal level. California (and other states named in the article, including Massachusetts), helped start this process, as they usually do. It will be interesting to see how this moves through the bureaucracy of the EPA and what kind of regulations (assuming the ruling does end up standing) will come of it.

I came across this article last week that mentions the growth potential on the carbon market. Carbon market to grow 50% in 2007. My comments are a bit sparse on these two today. I hope to come back and readdress what I may think their implications are.

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