Tradeable emission permits

This article in the Chicago Tribune (2/14/05; the link will not be good in about a week) provides a very good introduction to and discussion of tradeable emissions permits as a pollution control strategy. The article focuses on extending the tradeable permits concept to carbon monoxide (under the Kyoto treaty) and outlines what's happening in Germany (but not in the US). The German program is patterned after a US program that created tradeable emissions permits for sulfur dioxide. Take a look, it's well worth your time.