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The power of experts at this time before Congress in the United States, shows a large decrease in emissions of greenhouse gases and increase the likelihood of various international agreements to reduce greenhouse gases. "This is climate change legislation, with the serious," said Gilbert Metcalf, an economics professor at the University of tufts. But many warn that the draft changes to the traditional markets and mechanisms of this regulation to reduce emissions more than they should.

The draft law, officially announced that the United States Security and Clean Energy Act of 2009, is also considered as the Waxman-Markey Bill, to sponsor them, Henry Waxman (D-Ca.) and Edward Markey (D-Mass.). Law, a cap and trade system to reduce greenhouse gases, an approach favored by most economists in relation to the regulations, because the high degree of flexibility, such as emissions reduction targets met. But also a mandate, can significantly reduce costs, such as Cap and trade approach is intended to provide.

In a cap and trade system, governments set a cap on total emissions of greenhouse gases from industrial equipment and various sources, including plants burning fossil fuels to generate electricity. The polluters pay, and carbon dioxide gases, the total amount of emissions available on living in the CAP. During the period of time, the government gradually to reduce the amount of allowance and up to their destination. When companies license their emissions, they need more.

Economists such as the system, because the company can choose to reduce emissions, for example by investing in new technology, or purchase a license from the government or industry, they do not need to - what makes economic sense is better. This device is designed to market the value of carbon emissions.

Proposed draft energy law, the Government is to reduce emissions of greenhouse gases by 17 percent cap in 2020 (compared to 2005), and 80 percent in 2050 - the target is selected, to prevent the worst impacts of climate change. Maxima electricity more expensive for companies and the implementation of clean technology, the degradation of the palate or the money to buy with less emissions. But the law has some provisions for the depreciation of the impact, especially the first. For one thing, this is far from most of the license does not cost to them, and also required that all the benefits of this free allowances to electricity customers. In addition, companies can buy "offsets" for the payment reduction programs outside the United States.

If this is correct, there is less than the amount of emissions, when the program starts. Initially, if the caps are relatively easy to take, the price of carbon allowances in the market to a minimum. But they eventually higher than the cost of the rare. In an ideal world, to predict the price of the company and the plan allowance.