First US greenhouse gas auction set for Sept. 25

Vermont and nine other northeastern states this week will take steps to check global warming when they conduct the nation's first carbon auction, taking the same approach that curbed lake-killing acid rain.

Environmental groups, energy producers, and government leaders will be watching closely as the Regional Greenhouse Gas Initiative -- called Reggie for short -- sells carbon credits Sept. 25 in the first of a series of quarterly online auctions.

Vermont stands to reap a benefit because with the low carbon-emitting profile of its electrical system, the state has ample carbon credits to sell.

The cap-and-trade greenhouse gas reduction program, which aims to hold carbon dioxide emissions steady through 2014 and then gradually reduce them, is widely viewed as a model for future programs around the globe.