Cap and Trade
Cap and trade is a system in which economically and an environmentally approach to control the emission of green house gases. Cap and trade is a market based approach to control pollution which was adopted by many countries, states, and groups of companies. The cap sets a limit on emissions, which is lowered over time to reduce the amount of pollutants released into the atmosphere. The trade creates a market for carbon allowances, helping companies to come up with different ideas in order to meet, or come in under, their allocated limit. The less amount of green house gasses are emitted, the less companies pay, so it is in their economic incentive to pollute less.
John Henry first heard about the idea of cap and trade through his friend Boyden Gray one day during their hike in the 1980’s. At the time it was known as emission trading which was the idea of letting people buy and sell the right to pollute. In many people’s eyes it was the key to cleaning up the world for many reasons. Others thought that the idea of cap and trade was morally bankrupt and a license to kill. One of the pros of cap and trade was the increase of governmental revenue. The profits of the revenue would be used to make energy more efficient to help low income families. A con of cap and trade was that people believed that …show more content…
Acid rain occurs when sulfur dioxide and nitrogen oxide react in the atmosphere to be formed into acid deposition. In the 1990’s the allies got the approval of the system to be adopted as a national law. With the power plants pollutants now being regulated a major improvement was on the rise, which would lead for many more influences across the nation to take into action. Congress had now considered to take more approaches in expanding the system to control the carbon dioxide
Cap and trade is a system in which economically and an environmentally approach to control the emission of green house gases. Cap and trade is a market based approach to control pollution which was adopted by many countries, states, and groups of companies. The cap sets a limit on emissions, which is lowered over time to reduce the amount of pollutants released into the atmosphere. The trade creates a market for carbon allowances, helping companies to come up with different ideas in order to meet, or come in under, their allocated limit. The less amount of green house gasses are emitted, the less companies pay, so it is in their economic incentive to pollute less.
John Henry first heard about the idea of cap and trade through his friend Boyden Gray one day during their hike in the 1980’s. At the time it was known as emission trading which was the idea of letting people buy and sell the right to pollute. In many people’s eyes it was the key to cleaning up the world for many reasons. Others thought that the idea of cap and trade was morally bankrupt and a license to kill. One of the pros of cap and trade was the increase of governmental revenue. The profits of the revenue would be used to make energy more efficient to help low income families. A con of cap and trade was that people believed that …show more content…
Acid rain occurs when sulfur dioxide and nitrogen oxide react in the atmosphere to be formed into acid deposition. In the 1990’s the allies got the approval of the system to be adopted as a national law. With the power plants pollutants now being regulated a major improvement was on the rise, which would lead for many more influences across the nation to take into action. Congress had now considered to take more approaches in expanding the system to control the carbon dioxide