clean energy projects, would "pay Consol for the use of its ventilated air, destroy the methane in that airstream and sell the credits generated from that to companies in California. Because greenhouse gas emissions contribute to global, not regional, warming, projects anywhere in the U.S. qualify under California's system as long as they are approved by the California Air Resources Board."
The only hurdle is that critics "have argued that awarding credits to coal-mine methane would deflect resources from greener technologies with a more local impact," a fear that stalled a decision by the Air Resources Board in October, Litvak writes. But if the board approves a protocol, it will mean big money for coal companies, because of the higher cost of selling into the California carbon market. "For a project the size of Enlow or McElroy, the difference between selling on the voluntary market and selling into the California carbon market is the difference between $300,000 and $3 million a year." (Read more)