The Resource Regulating a carbon market : issues raised by the European carbon and U.S. sulfur dioxide allowance markets, Mark Jickling, Larry Parker
Regulating a carbon market : issues raised by the European carbon and U.S. sulfur dioxide allowance markets, Mark Jickling, Larry Parker
Resource Information
The item Regulating a carbon market : issues raised by the European carbon and U.S. sulfur dioxide allowance markets, Mark Jickling, Larry Parker represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in University of San Diego Libraries.This item is available to borrow from 1 library branch.
Resource Information
The item Regulating a carbon market : issues raised by the European carbon and U.S. sulfur dioxide allowance markets, Mark Jickling, Larry Parker represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in University of San Diego Libraries.
This item is available to borrow from 1 library branch.
- Summary
- Both the European Union's Emissions Trading Scheme (EU-ETS) and the U.S. Title IV sulfur dioxide (SO2) program provide insights into regulatory issues that may face any future U.S. carbon market. From the initial operations of the EU-ETS, the 2006 price crash raised questions about the adequacy of market regulation. In particular, some suspect that information about allocations leaked before official publication, and that certain traders profited from this knowledge. Title IV's longer trading history reveals two important trends: (1) an increasing trend toward diverse and non-traditional participants that is likely to continue under a carbon market; (2), an increasing use of financial instruments to manage allowance price risk that is likely to expand under a carbon market as a hedge against price uncertainty. Indeed, a carbon market may look more like other energy markets, such as natural gas and oil, than the somewhat sedate SO2 allowance market. Regulation of emissions trading would have to consider two kinds of fraud and manipulation: fraud by traders or intermediaries against other investors, and sustained price manipulation. Four agencies could have roles in the regulation of an emissions market, each with its own attributes that may contribute to effective regulation. The Commodities Futures Trading Commission (CFTC) currently oversees the Title IV program and its current mission most closely resembles what a regulator of a future carbon market would do, including experience in market surveillance to prevent or detect fraud and manipulation. The major failing of the CFTC, according to some, is that it lacks the resources and the statutory mandate to do its job. The Securities and Exchange Commission (SEC) is much larger than the CFTC, and its enforcement programs are considered more effective than the CFTC's. While the CO2 market will resemble commodities markets more closely than securities, SEC has some appropriate regulatory tools applicable to an emissions market. The Environmental Protection Agency (EPA) would likely be responsible for the primary market in allowances. However, EPA lacks experience comparable to that of the CFTC and SEC in regulating trading markets, although the data it gathered in the primary market could be critical to oversight of the secondary market. Federal Energy Regulatory Commission (FERC) was granted oversight authority over bulk electricity and interstate natural gas markets in 2005. Its experience with market surveillance and enforcement is thus limited in comparison to the SEC and CFTC, and it does not play an active role in overseeing the Title IV market. It is possible that no single regulator would have clear jurisdiction, as is the case in the Title IV program. This kind of regulatory fragmentation has not always worked well. An umbrella group to monitor markets and provide a forum for regulatory coordination might help to prevent regulatory gaps or conflicts in the market
- Language
- eng
- Extent
- 1 online resource (32 pages)
- Note
-
- "April 30, 2008."
- Title from title screen (viewed Sept. 18, 2008)
- Label
- Regulating a carbon market : issues raised by the European carbon and U.S. sulfur dioxide allowance markets
- Title
- Regulating a carbon market
- Title remainder
- issues raised by the European carbon and U.S. sulfur dioxide allowance markets
- Statement of responsibility
- Mark Jickling, Larry Parker
- Subject
-
- Carbon dioxide mitigation -- Economic aspects
- Carbon dioxide mitigation -- Economic aspects
- Electronic books
- Emissions trading
- Emissions trading
- Environmental economics
- Environmental economics
- Environmental protection -- Economic aspects
- Environmental protection -- Economic aspects
- Greenhouse gas mitigation -- Economic aspects
- Sulfur dioxide mitigation -- Economic aspects
- Language
- eng
- Summary
- Both the European Union's Emissions Trading Scheme (EU-ETS) and the U.S. Title IV sulfur dioxide (SO2) program provide insights into regulatory issues that may face any future U.S. carbon market. From the initial operations of the EU-ETS, the 2006 price crash raised questions about the adequacy of market regulation. In particular, some suspect that information about allocations leaked before official publication, and that certain traders profited from this knowledge. Title IV's longer trading history reveals two important trends: (1) an increasing trend toward diverse and non-traditional participants that is likely to continue under a carbon market; (2), an increasing use of financial instruments to manage allowance price risk that is likely to expand under a carbon market as a hedge against price uncertainty. Indeed, a carbon market may look more like other energy markets, such as natural gas and oil, than the somewhat sedate SO2 allowance market. Regulation of emissions trading would have to consider two kinds of fraud and manipulation: fraud by traders or intermediaries against other investors, and sustained price manipulation. Four agencies could have roles in the regulation of an emissions market, each with its own attributes that may contribute to effective regulation. The Commodities Futures Trading Commission (CFTC) currently oversees the Title IV program and its current mission most closely resembles what a regulator of a future carbon market would do, including experience in market surveillance to prevent or detect fraud and manipulation. The major failing of the CFTC, according to some, is that it lacks the resources and the statutory mandate to do its job. The Securities and Exchange Commission (SEC) is much larger than the CFTC, and its enforcement programs are considered more effective than the CFTC's. While the CO2 market will resemble commodities markets more closely than securities, SEC has some appropriate regulatory tools applicable to an emissions market. The Environmental Protection Agency (EPA) would likely be responsible for the primary market in allowances. However, EPA lacks experience comparable to that of the CFTC and SEC in regulating trading markets, although the data it gathered in the primary market could be critical to oversight of the secondary market. Federal Energy Regulatory Commission (FERC) was granted oversight authority over bulk electricity and interstate natural gas markets in 2005. Its experience with market surveillance and enforcement is thus limited in comparison to the SEC and CFTC, and it does not play an active role in overseeing the Title IV market. It is possible that no single regulator would have clear jurisdiction, as is the case in the Title IV program. This kind of regulatory fragmentation has not always worked well. An umbrella group to monitor markets and provide a forum for regulatory coordination might help to prevent regulatory gaps or conflicts in the market
- Cataloging source
- EJB
- http://bibfra.me/vocab/lite/collectionName
- HeinOnline U.S. Congressional Documents Library
- http://library.link/vocab/creatorName
- Jickling, Mark
- Government publication
- federal national government publication
- Illustrations
-
- illustrations
- charts
- Index
- no index present
- Literary form
- non fiction
- Nature of contents
-
- dictionaries
- bibliography
- http://library.link/vocab/relatedWorkOrContributorDate
- 1954-2013
- http://library.link/vocab/relatedWorkOrContributorName
-
- Parker, Larry
- Library of Congress
- Series statement
- CRS report for Congress
- Series volume
- RL34488
- http://library.link/vocab/subjectName
-
- Emissions trading
- Greenhouse gas mitigation
- Carbon dioxide mitigation
- Sulfur dioxide mitigation
- Environmental protection
- Environmental economics
- Carbon dioxide mitigation
- Emissions trading
- Environmental economics
- Environmental protection
- Label
- Regulating a carbon market : issues raised by the European carbon and U.S. sulfur dioxide allowance markets, Mark Jickling, Larry Parker
- Note
-
- "April 30, 2008."
- Title from title screen (viewed Sept. 18, 2008)
- Bibliography note
- Includes bibliographical references
- Carrier category
- online resource
- Carrier category code
-
- cr
- Carrier MARC source
- rdacarrier
- Color
- mixed
- Content category
- text
- Content type code
-
- txt
- Content type MARC source
- rdacontent
- Control code
- 252781964
- Dimensions
- unknown
- Extent
- 1 online resource (32 pages)
- Form of item
- online
- Media category
- computer
- Media MARC source
- rdamedia
- Media type code
-
- c
- Other physical details
- illustrations, charts
- Specific material designation
- remote
- System control number
- (OCoLC)252781964
- System details
-
- Mode of access: World Wide Web
- System requirements: Adobe Acrobat Reader
- Label
- Regulating a carbon market : issues raised by the European carbon and U.S. sulfur dioxide allowance markets, Mark Jickling, Larry Parker
- Note
-
- "April 30, 2008."
- Title from title screen (viewed Sept. 18, 2008)
- Bibliography note
- Includes bibliographical references
- Carrier category
- online resource
- Carrier category code
-
- cr
- Carrier MARC source
- rdacarrier
- Color
- mixed
- Content category
- text
- Content type code
-
- txt
- Content type MARC source
- rdacontent
- Control code
- 252781964
- Dimensions
- unknown
- Extent
- 1 online resource (32 pages)
- Form of item
- online
- Media category
- computer
- Media MARC source
- rdamedia
- Media type code
-
- c
- Other physical details
- illustrations, charts
- Specific material designation
- remote
- System control number
- (OCoLC)252781964
- System details
-
- Mode of access: World Wide Web
- System requirements: Adobe Acrobat Reader
Subject
- Carbon dioxide mitigation -- Economic aspects
- Carbon dioxide mitigation -- Economic aspects
- Electronic books
- Emissions trading
- Emissions trading
- Environmental economics
- Environmental economics
- Environmental protection -- Economic aspects
- Environmental protection -- Economic aspects
- Greenhouse gas mitigation -- Economic aspects
- Sulfur dioxide mitigation -- Economic aspects
Genre
Member of
Library Links
Embed
Settings
Select options that apply then copy and paste the RDF/HTML data fragment to include in your application
Embed this data in a secure (HTTPS) page:
Layout options:
Include data citation:
<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.sandiego.edu/portal/Regulating-a-carbon-market--issues-raised-by-the/ihDdrgMQfk8/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.sandiego.edu/portal/Regulating-a-carbon-market--issues-raised-by-the/ihDdrgMQfk8/">Regulating a carbon market : issues raised by the European carbon and U.S. sulfur dioxide allowance markets, Mark Jickling, Larry Parker</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.sandiego.edu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.sandiego.edu/">University of San Diego Libraries</a></span></span></span></span></div>
Note: Adjust the width and height settings defined in the RDF/HTML code fragment to best match your requirements
Preview
Cite Data - Experimental
Data Citation of the Item Regulating a carbon market : issues raised by the European carbon and U.S. sulfur dioxide allowance markets, Mark Jickling, Larry Parker
Copy and paste the following RDF/HTML data fragment to cite this resource
<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.sandiego.edu/portal/Regulating-a-carbon-market--issues-raised-by-the/ihDdrgMQfk8/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.sandiego.edu/portal/Regulating-a-carbon-market--issues-raised-by-the/ihDdrgMQfk8/">Regulating a carbon market : issues raised by the European carbon and U.S. sulfur dioxide allowance markets, Mark Jickling, Larry Parker</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.sandiego.edu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.sandiego.edu/">University of San Diego Libraries</a></span></span></span></span></div>