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1. |
Clean Air Act |
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- 1970, 1977, 1990
- Goal: achieve an adequate margin of safety (NAAQS)
- Technological standards:
- NSPS: New source performance
standards
- LAER: Lowest achievable emission rate
- BACT: Best
available control technology
- RACT: Reasonably available
control technology
- MACT: Maximum achievable control
technology
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2. |
Clean Water Act |
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- 1972 (FWPCA), 1977
- Goal: Achievement of fishable and swimmable waters by 1983, zero
discharge of pollutants into navigable waters by 1985
- Technological standards:
- BPT: Best practical technology
-
BAT: Best available technology
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3. |
Command and Control |
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- Technological standards
- Uniform standards
- New source performance standards
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| 4. |
Incentive Based |
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-
Taxes and subsidies
-
Marketable permits
- Cost-effectiveness rule (i.e., equimarginal principle)
- Dynamic efficiency
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| 5. |
Details |
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- Hot spots (concentrated pollutant)
- Monitoring and compliance
- Thin markets
- Transactions costs (imperfect information)
- Market power
- Permit life (banking)
- Entry and exit
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| 6. |
Examples at EPA |
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