The passage of the Clean Air Act and the creation of the Environmental Protection Agency (EPA) in 1970 marked a sweeping transformation in American politics. In

Introduction : save EPA -- The costs of pollution -- The doer : power in implementation -- A balancing act : regulatory review -- Putting the profit motive to w

Examines the successes and failures of the Clean Air Act in order to lay a foundation for future energy policy.

The book analyzes the behavior and performance of the market for emissions permits, called allowances in the Acid Rain Program, and quantifies emission reductio