Environmentalism as currency

New York state made $16.9 million in an auction of carbon emission allowances, reported the NY Times ‘Green’ blog. More than 80 percent of the auction proceeds are supposed to be invested in energy-saving programs.

Gov. David A. Paterson set a precedent last year when he took $90 million from the money generated by the initiative to deal with a projected state budget deficit of nearly $50 billion through March 2013. […] State officials said that dipping into the environmental pool of money was a necessity in a moment of crisis and was not expected to happen again.

Requiring companies to pay money for the right to pollute the air as a way to cover the budget deficit…very crafty.


About Samantha Ku

Samantha is a journalism and French major at NYU.
This entry was posted in Climate, Energy, Pollution. Bookmark the permalink.

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