They have been doing this in the USA since 2009
Tony Abbott, our PM is a goon.
How do you turn $1 billion into $2 billion, all the while helping to slow down global warming? By capping carbon dioxide pollution and charging for emissions permits, then plowing the revenues into clean energy and energy-efficiency programs.
The Regional Greenhouse Gas Initiative, a carbon-trading program that covers nine Northeast and Mid-Atlantic states, charged power plants about $1 billion for the right to pollute the climate from 2009 to 2012. Of that, $707 million has so far been invested into green programs, and $93 million has been transferred into states’ general funds, according to a new RGGI report.
Three-quarters of the investments have been used to help utility customers cut back on the amount of power that they use. Those efficiency improvements are eventually expected to save 800,000 households and 12,000 businesses more than $1.8 billion in energy bills.
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