federal_register: 95-18869
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| document_number | title | type | abstract | publication_date | pub_year | pub_month | html_url | pdf_url | agency_names | agency_ids | excerpts | regulation_id_numbers |
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| 95-18869 | Open Market Trading Rule for Ozone Smog Precursors | Proposed Rule | This notice conveys EPA's strong support for an innovative approach in emissions trading that would bring better, faster, and less expensive progress towards our nation's air quality goals. This innovative approach, known as open market trading, would allow all types of sources to trade emissions of pollutants that cause ground- level ozone and significantly reduce the overall cost of meeting the public health and environmental goals of the national ambient air quality standards (NAAQS) for ozone. An important feature of this approach is that individual trades would not have to be processed as separate State implementation plan (SIP) revisions. Rather, open market trades would provide sources with an alternative means of compliance, and they would be reviewed by State and Federal authorities predominantly during compliance determinations. The EPA believes this open market approach can provide important emissions reduction benefits. It can be put into operation immediately in places where area-wide emissions budgets and source allocations needed to meet the ozone standard have yet to be determined. The unique character of this approach encourages and permits market participation and innovation by smaller stationary sources and mobile sources. It also encourages sources to make reductions early; these reductions can provide immediate public health benefits. By providing a lower cost compliance alternative, the open market approach can make it easier for States to adopt additional control measures where needed to achieve attainment. The EPA has developed today's proposed open market trading rule (OMTR) as a new approach that would supplement, and would not modify or limit the adoption by States of other emissions trading approaches available under the Clean Air Act (Act) and existing EPA rules and policies. Today's proposal is in the form of a model rule; any State which adopts the final version of this rule could expect its rule to be immediately approved by EPA. This feature would enable States to begin operation of an open market trading program without delay. The EPA continues to encourage States to take advantage of all market-based programs available to them, including emissions budget (cap and trade) programs and emissions offsets, as well as emissions averaging programs. | 1995-08-03 | 1995 | 8 | https://www.federalregister.gov/documents/1995/08/03/95-18869/open-market-trading-rule-for-ozone-smog-precursors | https://www.govinfo.gov/content/pkg/FR-1995-08-03/pdf/95-18869.pdf | Environmental Protection Agency | 145 | This notice conveys EPA's strong support for an innovative approach in emissions trading that would bring better, faster, and less expensive progress towards our nation's air quality goals. This innovative approach, known as open market trading, would... |