Earth Equity News

Emissions from Northeast Power Plants Down to 17% Below RGGI Cap. By Beth Daley, BostGlobe, March 12, 2009. "New figures being released Wednesday show the recession helped drive down global warming emissions from Northeast power plants last year to their lowest levels in at least nine years. But the decline could have the perverse effect of delaying more lasting reductions under a landmark 10-state pact to fight man-made climate change. Northeast emissions last year dropped about 9 percent from 2007, according to preliminary projections by Point Carbon, a consulting and research firm. The Norway-based company said the recession, combined with power plants burning cleaner natural gas, appear to be the main reasons. The drop in emissions is good for the environment in the short term. But oddly, it has the unintended effect of delaying the more important, longer-term impact of a program to reduce greenhouse gases. That program, designed by 10 Northeast states and called the Regional Greenhouse Gas Initiative, or RGGI, is a model for national legislation being drafted in Washington... with emissions now about 17 percent below the RGGI cap, allowances are not in particular demand, so the market forces are not kicking in. Emission allowances are not expected to get high enough anytime soon to spark investment in clean energy."