This week, Virginia formally proposed Nutrient Trading Certification Regulations. The program will establish a market in phosphorus and nitrogen removal credits. Although the program is welcome news, it should be neither earthshattering nor controversial. After all, as we noted more than two years ago, a study by the Chesapeake Bay Commission demonstrated that use of nutrient trading would substantially reduce the cost of the Chesapeake Bay restoration project.
Since I have a gift for the obvious, I’ll remind readers that we’ve been trading credits in SO2… More