Dissatisfied with CAIR replacement, market calls for legislative fix

The US Environmental Protection Agency (EPA) has proposed new regulations to reduce power plant emissions of sulphur dioxide (SO2) and nitrogen oxide (NOx) after a 2008 court ruling stalled the market for trading in these emissions allowances. If enacted, the rule would be finalised next year and reductions would begin to take effect by 2012, according to the EPA.

The proposal, called the Transport Rule, would replace the 2005 Clean Air Interstate Rule (CAIR), which the US Court of Appeals for

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