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From: Wall Street Journal
Published October 20, 2008 10:26 AM
Pollution Credits Let Dumps Double Dip
CAPE MAY COUNTY, N.J. -- America's garbage dumps are reaping a windfall
from the fight against global warming. But their payday might not be doing
much to reduce greenhouse-gas emissions.
For more than a decade, the landfill here has made extra profit simply by
collecting methane given off by rotting trash, and selling it as fuel. Last
year, the landfill learned that doing this also qualified it to earn
hundreds of thousands of dollars via a new program that pays companies to
cut their greenhouse-gas emissions.
Eliminating methane lets dumps sell "carbon credits" to environmentally
conscious people and companies. The long-term goal of trading credits --
basically, vouchers representing reductions in carbon dioxide and other
greenhouse gases -- is to reduce global pollution by encouraging others to
cut emissions when the buyers of the credits can't or won't cut their own.
"It seemed a little suspicious that we could get money for doing nothing,"
says Charles Norkis, executive director of the Cape May County Municipal
Utilities Authority, which has raised $427,475 selling credits since
February, or 3% of the authority's projected solid-waste revenue for the
year.
The sale of credits by these landfills undermines a premise of the global
fight against climate change. The credit system was designed to encourage
pollution cuts that wouldn't have happened without a financial incentive.
But the credits aren't helping the environment if they're merely providing
extra profit for cleanups already made. And dumps already have an incentive
to capture methane because selling it can be profitable.
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