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Financial In Market Cuts in toxic mercury pollution at some of the nation's coal-fired power plants would be relaxed under a Bush administration proposal that is likely to have its biggest impact in Texas, where 19 plants release more mercury into the air than in any other state.

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Oriental Trading The U.S. Environmental Protection Agency confirmed Thursday that it would propose a cap-and-trade program to reduce mercury later this month, allowing market forces to determine which plants will cut mercury pollution to meet a 70 percent nationwide reduction by 2018.

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Financial Forex Forex Software It was an unexpected move by the agency, which was set to propose on Dec. 15 that all coal-fired power plants would be required to meet a set emissions rate by 2008. That mandate would have reduced mercury -- a pollutant unregulated in the electric utility sector -- a decade sooner. And, some say, the cuts would be deeper.

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Trading Financial System Environmentalists and some emissions traders warned Thursday that the new proposal could create mercury "hot spots" in Texas, areas with higher mercury pollution, because rather than instituting reductions, power plants would purchase pollution "credits" from utilities that emit less pollution than allowed.

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Day Trading "Utilities in Texas have already made significant pollution reductions," said Tom "Smitty" Smith, executive director of Public Citizen in Austin. "It is unlikely that anytime soon these companies would make another round of investments in pollution control devices. They'll most likely buy reductions from plants elsewhere."

Forex Financial Trading The Texas emits more mercury pollution from power plants than any other state, according to the Toxics Release Inventory, an annual record of emissions reported to the EPA by industry. The bulk of the emissions come from large power plants in five counties, some of which burn lignite, a soft, brown coal plentiful in Texas.

Fortune Make Option Trading "Texas will be the direct focus of how this program works," said Randy Lack, a managing partner of Emission Credit Broker, an emissions trading company in Houston. Lack said big emitters tend to reduce more than they have to so they will have credits to trade on the market, a trend that could lead to more reductions in Texas.

Science Of Financial Market Yet even the EPA, in a draft of the rule leaked by environmental groups earlier in the week, says the rule "may result in emissions that may have adverse health impacts within the local area." But the rule is a move in the right direction, especially for Texas, according to the EPA.

Future Trading "Right now, there are no regulations on mercury from power plants. We will go from no regulation to a mandatory 70 percent cut," said Cynthia Bergman, an EPA spokeswoman in Washington. "With steep cuts like that, it is unlikely that hot spots will arise. If they do, states will have authority to take action."

Financial Sales Services Once released into the air by power plants, incinerators, smelter and other sources, mercury, a toxic metal, enters the environment from rain, snow and dust particles. Once released, it contaminates fish and other wildlife. Caddo Lake, Toledo Bend Reservoir and the entire Texas Gulf Coast have warnings against eating certain species of fish because of mercury. The metal winds its way through the food chain to humans, where it can affect the immune and nervous systems and damage developing embryos.

Commodity Trading "The rule needs to be written in such a way that the result of the trade-and-cap process is that we don't have an increase in emissions, and we don't end up trading emissions from where it doesn't matter to places that do matter," said EPA regional administrator Richard E. Greene, an appointee of President Bush.

Financial Services Trading Companies that own some of Texas' bigger power plants -- and thus, the biggest emitters of mercury -- said Thursday that electric utilities in the United States account for only 1 percent of mercury emissions worldwide, and setting up a cap-and-trade program would create incentives that get mercury reduced faster. They point to the successful 1990 program to reduce acid rain that set up a credit-trading system for sulfur dioxide.

Online Forex Trading "The current Clean Air Act approach would require installation of equipment and the expenditure of large sums of money on all coal-fired plants," said Leticia Lowe, a spokeswoman with Houston-based CenterPoint Energy, which owns an 81 percent interest in two of the biggest mercury emitters in the state, Limestone Electric Generation Station in Jewett and W.A. Parish Electric Generating Station in Fort Bend County.

Financial Portfolio Trade CenterPoint Energy favors a cap-and-trade program over an industrywide mandate.

Sierra Trading Post "The focus should be on effectively reducing mercury, not an arbitrary mandate that every plant must install control equipment," Lowe said.

Trading Financial Future Other power companies with holdings in the state, including TXU Energy and American Electric Power, said that while strides have been made to reduce other pollutants, there is "no proven technology that will work" on mercury. Along with the new mercury proposal, the EPA announced Thursday that it would establish similar trading programs for sulfur dioxide and nitrogen oxide, pollution that causes acid rain and smog, respectively.

Forex Trading Software But for people who live near the power plants, it is a little too late.

Trading Post "It's really a shame for us here because we have the highest concentrations of mercury emitted in the state," said Longview native Tammy Campbell, director of WE CAN, or Working Effectively for Clean Air Now. Campbell has lived 43 years in the vicinity of some of Texas' biggest power plants, including TXU's Monticello plant, which emits the most mercury in the state.

Trading System "You don't think your air would be polluted out here in rural America," she said.

Forex Trading System The proposed rules closely resemble legislation drafted by the Bush administration and lobbied for heavily by industry that would have slashed three power plant pollutants using free markets.

Fx Trading The so-called Clear Skies Initiative also would have established a cap-and-trade program for mercury, sulfur dioxide and nitrogen dioxides, but it remains stalled in Congress.

Trading Card "While we continue to believe that the Clear Skies Act is the best approach to reducing power plant emissions ... we must move forward with these steps now," said newly appointed EPA Administrator Mike Leavitt in a written statement released Thursday.

In Online Trading According to the EPA's own analysis, Clear Skies alone would have cut mercury in Texas by 45 percent by 2020.

Online Commodity Trading When coupled with state requirements, mercury pollution from power plants in Texas would have been slashed by 61 percent in the same period.

Line Trading Advocates contend that if the EPA required all coal-fired power plants to install new technology, mercury emissions would have declined by as much as 90 percent.

Forex Currency Trading By Dina Cappiello
Houston Chronicle - 12/5/2003

Topic: Toxics

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