Virginia Approves Auction of Pollution Allowances; Proceeds to Fill Budget Gap.

From: Knight Ridder/Tribune Business News | Date: December 9, 2003 | Copyright information

By Greg Edwards, Richmond Times-Dispatch, Va. Knight Ridder/Tribune Business News

Dec. 9--The State Air Pollution Control Board voted 4-1 yesterday to approve an auction for some of the state's pollution allowances for ozone-causing nitrogen oxides.

Board members took the vote following lengthy discussion that covered, among other things, the fairness of the proposed auction and the legislature's interest in using the auction to help fill the state's yawning budget gap.

The federal Environmental Protection Agency created a system of allowances -- the right to ...

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