Reuters Summit-Chu backs price collar on carbon permits
20 Oct 2009 15:47:37 GMT Source: Reuters
(For other news from the Reuters Washington Summit, click on http://www.reuters.com/summit/Washington09?PID=500)WASHINGTON, Oct 20 (Reuters) - U.S. Energy Secretary Steven Chu on Tuesday threw his support behind setting a price floor and ceiling on carbon dioxide pollution permits that are part of climate control legislation pending in Congress."I personally would support a price collar because it gives more stability, and it's a damper on some of the manipulative stuff" that some members of Congress fear could develop in the market, he told the Reuters Washington Summit.Legislation introduced in the Senate attempts to set a price floor on carbon permits at $10 per ton and a ceiling of $28 per ton, which would be regularly adjusted upward. That legislation is expected to be considered by the Senate Environment and Public Works Committee next month. (Reporting by Richard Cowan, editing by Anthony Boadle) (For summit blog: http://blogs.reuters.com/summits/) (For more on the Reuters Washington Summit, see [nN19208783])
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