Obama seeks cap-and-trade program to limit carbon emissions

02/27/2009 | NYTimes.com

President Barack Obama wants to implement a cap-and-trade program to curb greenhouse-gas emissions. The program would auction 100% of pollution permits, and would not provide exemptions for any industry. The Obama budget also calls for reductions in carbon emissions of 14% from 2005 levels by 2020, and would give the Environmental Protection Agency's 2010 budget a 34% increase.

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