Market Prices
The U.S. Department of Energy in 1991 estimated the installed retrofit cost per ton of SO2 pollution control equipment (scrubbers) on existing units would be in the $665– $736/ton range. However, 2005 was the first year the price of an SO2 allowance reached this level. In fall 2006, a few trades were registered at slightly over $1,600/ton. At those rates, it was less expensive to install scrubbers and reduce air pollution than to purchase SO2 emissions allowances and continue polluting. Subsequently, the market price of SO2 allowances decreased to around $88/ton in August 2009.
Read more about this topic: Acid Rain Program
Famous quotes containing the words market and/or prices:
“When General Motors has to go to the bathroom ten times a day, the whole country’s ready to let go. You heard of that market crash in ‘29? I predicted that.... I was nursing a director of General Motors. Kidney ailment, they said; nerves, I said. Then I asked myself, “What’s General Motors got to be nervous about?” “Overproduction,” I says. “Collapse.””
—John Michael Hayes (b. 1919)
“United Fruit... United Thieves Company... it’s a monopoly ... if you won’t take their prices they let your limes rot on the wharf; it’s a monopoly. You boys are working for a bunch of thieves, but I know it ain’t your fault.”
—John Dos Passos (1896–1970)