Carbon credit swaps fizzle out

FRESNO, Calif.

The North Dakota Farmers Union gave farmers across the country carbon dioxide credits for reducing carbon emissions and other gasses tied to global warming. Those credits were then sold to businesses and others who needed to offset their pollution.

Now the program will no longer take enrollment after this year because of uncertainty about U.S. climate legislation.

About 3,900 farmers and ranchers from 40 states have earned nearly $7.5-million through the program. But the Farmers Union president says carbon credits that fetched up to $7 dollars a metric ton a few years ago are now nearly worthless without federal climate legislation.

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