The Origin and Demise of New Jersey's Open Market Emissions Trading Program

Demarco, Devin P.
January 2005
Environmental Law Reporter: News & Analysis;Jan2005, Vol. 35 Issue 1, p10032
The article focuses on the origin and demise of New Jersey's Open Market Emissions Trading Program (OMET). OMET is terminated following scrutiny form the U.S. Environmental Protection Agency (EPA), environmental groups, and a new New Jersey Department of Environmental Protection administration (NJDEP). The article also discusses the basis for this scrutiny and other program flaws discovered through interviews with, and public comments from, NJDEP and EPA officials, and former members of the New Jersey State Legislature. New Jersey's emissions credit trading program highlights a potential misconception over the conjoining of market mechanisms and environmental policy--that market based solutions can independently solve environmental problems and provide industry with and alternative method of regulatory compliance.


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