The recommendation still calls for a major decrease from current fees of around 44 cents, but it is milder than the initial 7-12 cent cap proposal by the Fed last year.

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As you noted, price fluctuations occur in the European cap-and-trade system because the initial allocation of credits was too generous, rather than any inherent price volatility in carbon markets.

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Secondly, after the initial euphoria, there are lots of questions now emerging about the success of the temporary cap.

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His initial header was saved by Gomes, but the Bulgarian stabbed home the loose ball to cap a remarkable afternoon.

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