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By Pete Hammond. The Academy of Motion Picture Arts and Sciences has invited new members in their annual effort to bring in new blood to the organization that hands out the Oscars. Among the new invitees, 21 are already Oscar winners and 82 are past Oscar nominees. New members among the acting branch include recent Best Song winner Lady Gaga, who is also being invited to the music branch; Sterling K. Like last year, new members come from a total of 59 countries as the Academy continues to reshape itself as a visible global organization.

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Israel, Esq. Wilson, Jr. Subscribe to Deadline Breaking News Alerts and keep your inbox happy. It was the system now known as cap and trade. But it was still a long way from being a practical reality.

Among the scholars beginning to consider this idea in the early s was an environmental economist named Dan Dudek. He had learned during a stint working on pollution issues at the U.

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Behaviorally oriented approaches to pollution problems began to look like a better alternative. Teaching at the University of Massachusetts in the early s, Dudek turned to Dales both for his understanding of human nature and because he thought the directness and clarity of his writing might appeal to undergraduate students.

Incoming President George H. Utility executives loudly objected.

So did many traditional environmentalists who saw emissions trading as a way for polluters to buy their way out of fixing the problem. But the marketplace in acid rain emissions became law in the Clean Air Act Amendments of , written in part by Dudek. It set an ambitious goal of cutting those emissions in half, by 10 million tons.

Would it work? No one knew for sure until the program took effect in Soon after, a federal policy maker browsing through emissions reports stopped dead at one on an Ohio power plant that had been a major polluter. Almost overnight, it had cut emissions 95 percent, from , tons of sulfur dioxide annually down to 19, Other utilities soon joined in and the program hit its million-ton target in Allowing utilities the freedom to find the most cost-effective way forward for individual power plants—and profit from emissions allowances they no longer needed—proved to be a key factor in the success of the program.

According to the most conservative estimate, costs came in at least 15 percent below the cost of the command-and-control alternative. Today rainfall in the Eastern seaboard is less acidic and visibility has improved dramatically. Gene E. Likens, an ecologist who was among the first to spot the acid rain problem in and still continues his research at the Hubbard Brook Experimental Forest , cautions that soils and forests will take much longer to recover.

Building on the American success with cap and trade, in the European Union EU launched a trading scheme to reduce carbon emissions. Duration: 7.

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The Acid Rain Economy: How the Free Market Tackled an Environmental Challenge

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