Market-based emission systems can be important in controlling the costs and impact of mandated reductions of greenhouse gas (GHG) emissions. How will the Midwest adapt to the regulation of GHGs? The Midwest economy will likely be affected by carbon regulation in two major ways. The first avenue of regional effect concerns the degree of direct carbon reduction that may be required of Midwest households and businesses, especially in the generation and use of electric power. A second avenue of effect is less direct. The U.S. Congress is considering greater stringency in the fuel-efficiency of cars, trucks and other transportation vehicles. Major automotive companies are domiciled in the region, many of which are now financially beleaguered and are thought to face additional challenges in complying with heightened fuel-efficiency standards. Industry experts and policymakers discussed issues related to carbon emissions.
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