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Pollution Permits for Greenhouse Gases?

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Science  06 Nov 1998:
Vol. 282, Issue 5391, pp. 1025
DOI: 10.1126/science.282.5391.1025

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This week, as delegates from some 180 countries gather in Buenos Aires to figure out how to reduce greenhouse gases, they will spend much of their time pondering a strategy developed in the United States: trading emissions coupons in a free market (see main text). The Clinton Administration estimates that if the market operated perfectly, such trading could save around 90% of the cost of cutting greenhouse gas emissions. But despite American high hopes, experts warn that setting up an international carbon trading program will be a delicate and difficult task.