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Hu?nh Nghi?p
on Oct 14, 2024

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Mobil Oil Corporation recently bought the right to emit an additional 900 pounds of noxious gas vapors per day at its Torrance, California, refinery.This suggests that allowing pollution rights to be marketed is likely to lead to more pollution than there would be if there were no restrictions on polluting.

Pollution Rights

Allowances or permits that grant the holder the right to emit a certain amount of pollutants, used in regulatory systems to control environmental damage.

  • Understand the importance of property rights and how their allocation affects market outcomes and distribution.
  • Gain insight into the functionality and utilization of Pigouvian taxes and subsidies in addressing market defects caused by externalities.
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MR
Meagan RachalOct 18, 2024
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