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The Origins of "Cap and Trade"

Foreign Policy explores the history of “cap and trade” — the phrase and the concept. The idea has been around since 1967, but the phrase wasn’t coined until 1994, when Joseph Goffman, an attorney for the Environmental Defense Fund, told Congress that a “‘cap-and-trade’ regime … illustrates a compelling strategy for internalizing the environmental costs of energy and electricity production.”[%comments]