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Non-Tech : Climate Change, Global Warming, Weather Derivatives, Investi

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From: Sam Citron	2/27/2009 12:15:44 PM
	of 442

Carbon rules to boost gasoline, electricity costs by 6%-7% By Steve Gelsi Last update: 11:18 a.m. EST Feb. 27, 2009 NEW YORK (MarketWatch) -- Carbon dioxide emissions will draw a price of about $13.70 a ton based on President Barack Obama's proposed federal carbon cap included in his budget proposal, Point Carbon Managing Director Veronique Bugnion said Friday. A carbon price of $13 per ton would produce an increase in the cost of gasoline of 12 cents per gallon, a 6% increase over current retail gasoline prices. A 6.8% increase for average retail electricity rates is also projected, though Bugnion added that more coal heavy regions might see higher increases. Some of the increase might be offset by new renewable energy construction under renewable electricity standard proposals in the House and Senate, Point Carbon noted.

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