Between 1967 and 1970, Ellison Burton and William Sanjour of the National Air Pollution Control Administration (predecessor to the EPA Air Office) revealed the first cap and trade system through a series of computer simulations, based on mathematical models of cities and their carbon emission rates. Through these simulations, many controlled environmental policies aimed at reducing carbon emission were tested and compared with each other. In the end, the cap and trade system was heralded as the “lest cost solution.”
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