Grist: Last week, I argued that people shouldn`t be so gloomy about carbon-trading systems, despite the hue and cry around the European Union`s Emissions Trading System (ETS) right now. One example of a carbon-trading system that seems to be doing just fine is the Regional Greenhouse Gas Initiative (RGGI), which currently involves nine states in the U.S. Northeast.
RGGI is pretty modest as these things go. It only covers power plants, and only those 25 megawatts or greater. (There are 211 covered plants...