The Evolution of Offsets and the Dawn of Emissions Trading Markets Open Access
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The ability to meet today's environmental objectives relies upon the "tools" and strategies devised to offset the pollution generated by our activities. As State Implementation Plan (SIP) goals become increasingly difficult to achieve, regulators are faced with the challenge of balancing Clean Air Act (CAA) requirements with industry's desire for economic growth. The proper balance may become more elusive in the future as CAA requirements become more stringent. Under the existing command-and-control regime, New Source Review (NSR) CAA requirements for new or modified major stationary sources have obstacles to achieve this balance because of stringent permit and technology requirements mandated to meet National Ambient Air Quality Standards (NAAQS).