Excerpt:
"European Union leaders today unveiled detailed draft plans to reduce E.U.-wide emissions 20 percent below 1990 levels by 2020. The plans would require utilities to buy all of their greenhouse-gas emissions permits beginning in 2013, as opposed to the current practice of allocating nearly all of them for free, which companies can then sell at a profit."
http://www.grist.org/news/2008/01/23/EUplan/
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