Market cooling.

The article discusses the use of greenhouse gas exchanges or carbon markets to counter global warming in the western states in the U.S. According to the author, the latest effort to reduce global warming gases through market systems is more ambitious than earlier market approaches. He adds that states may have to limit the participation of the so-called offset projects in order for the carbon markets to work. Meanwhile, California is also working to add emissions in the utility industry to electricity sold in the state, in order to prevent utilities from jumping to other states without greenhouse gas caps to buy energy.