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But the sulfur dioxide cap, a roughly 50percentt reduction in emissions over the next decade, held.
Fines would be imposed on plants that exceeded a yet-uncalculated carbon dioxide cap, and the fines, according to the bill, would make the noncomplying plants uncompetitive, forcing them to clean up or close down.
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The Regional Greenhouse Gas Initiative, a 10-state program that has been testing a carbon dioxide cap-and-trade system, may be in trouble, with New Jersey planning to drop out and other states considering doing the same.
"They say, 'Things are going to get better, so why do we have to look at local impacts?' " Senator Jefford's demand for carbon dioxide caps has some industry supporters but it has also raised hackles.
Walsh's presentation to UN delegates on behalf of IATA will be viewed by climate change campaigners as an attempt to pre-empt punitive measures at Copenhagen, amid fears among airline executives that the aviation industry will be singled out over its exclusion from carbon dioxide caps enshrined in the 1997 Kyoto protocols.
Environ Health Perspect 115 A538 A545 (2007)], Jeff Chapman, chief executive officer of the Carbon Capture and Storage Association, suggested €62 billion as the potential annual, not cumulative, revenue from the European carbon dioxide cap-and-trade system.
By putting a value on carbon dioxide, this cap-and-trade system would provide incentives for companies to reduce emissions.
Congress is inclined to give away rather than sell permits to emit carbon dioxide in its cap-and-trade programme.
Shell is a leader in environmentally superior operations and a global advocate for carbon dioxide reduction through cap-and-trade controls.
"The incentives really aren't there for the creation of new technologies and investments to reduce carbon dioxide unless mandatory caps are put in place," he told the Times.
According to estimates by the Intergovernmental Panel on Climate Change, a tax of $80 a metric ton on carbon dioxide — or a cap-and-trade system with similar charges — would stabilize temperatures by midcentury.
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