March 12, 2009 / 10:27 PM / 11 years ago

Obama indicates flexibility on C02 permits

WASHINGTON (Reuters) - President Barack Obama on Thursday indicated some flexibility over plans to sell carbon dioxide permits to industry, but said they must be priced to encourage reduced greenhouse gas emissions.

“If you’re giving away carbon permits for free, then basically you’re not really pricing the thing and it doesn’t work, or people can game the system in so many ways that it’s not creating the incentive structures we’re looking for,” Obama told the Business Roundtable, a group of corporate executives.

“If it’s so onerous that people can’t meet it, then it defeats the purpose and politically we can’t get it done anyway, so were going to have to find a structure that arrives at that right balance,” Obama said.

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