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The decision on the permit to emit sulfur dioxide is still pending.
The price of a permit to emit one ton of carbon dioxide was mostly unchanged at about 13 euros ($17.66) in afternoon trading on European markets.
Analysts had predicted a somewhat smaller drop, but the price of a permit to emit one ton of CO2 was mostly unchanged at about 13, or $17.57, in afternoon trading on European markets.
One approach, he said, might include "trading" schemes under which, for example, a European utility would buy a permit to emit gases in exchange for building an energy-efficient factory abroad.
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Mr Obama wants to auction off, rather than give away, permits to emit carbon dioxide.
The bill would cap the production of heat-trapping gases and force polluters to buy permits to emit carbon dioxide.
Industry won.Economists argued that the most efficient way to run the system would be to auction permits to emit CO2.
Congress is inclined to give away rather than sell permits to emit carbon dioxide in its cap-and-trade programme.
The IMO is looking at further "market-based" measures, such as making ship operators buy tradable permits to emit CO2.
The market had not been working well, largely because too many permits to emit carbon had been issued.
Instead of auctioning permits to emit, Waxman-Markey gives 85% of them away, at least at first.
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