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57. The European Union, which had adopted the Kyoto Protocol, adopted a(n) __________, which is a market based system that caps the amount of carbon dioxide that companies are allowed to emit. a. Cap-and-Trade Systemb. Due Diligence Assessmentc. Superlien Strategic Environmental Management systemd. Random Cap-and-Audit SystemANSWER: aPOINTS: 1DIFFICULTY: ModerateNATIONAL STANDARDS: United States - BUSPROG: - ANALYTICACCREDITING STANDARDS: DISC: - AICPA: BB-LegalTOPICS: Global View: Climate Change, Kyoto and BeyondKEYWORDS: Blooms: Application58. Tina is the president of Bank X which holds a mortgage on a company found liable for illegal disposal of hazardous waste. The company has stopped paying on its loan to Bank X. Tina would like to foreclose, but she does not want the bank to become liable under CERCLA as an owner. What should she do?Tina should go ahead and foreclose because so long as the bank did not participate in the management of the facility prior to foreclosure, the bank will not be considered liable under CERCLA for clean-up costs.Tina might as well go ahead and foreclose because as a mortgage holder, the bank is already automatically liable under CERCLA for clean-up costs.
59. Explain in detail EPA practice in regard to approving a state program in lieu of the EPA's federal program.ANSWER: The EPA may approve a state program as equivalent to or as more stringent than the federal program and then refrain from implementing the federal program in that state. The EPA generally provides oversight, however. It retains its enforcement authority and may revoke its authorization if the state program fails to meet federal requirements.POINTS: 1DIFFICULTY: ChallengingNATIONAL STANDARDS: United States - BUSBROG: - AnalyticACCREDITING STANDARDS: DISC: - AICPA: BB-LegalTOPICS: 15-2 Administration of Environmental LawsKEYWORDS: Blooms: Comprehension60. Set forth the Clean Air Act's four types of air quality goals.ANSWER: First, it requires the Environmental Protection Agency (EPA) to establish nationalambient air quality standards, that is, to establish the maximum levels of pollutants in the outdoor air that, with adequate margins of safety, are compatible with public health. Second, it requires that air qualify in those areas that already meet national ambient air quality standards not be allowed to deteriorate. Third, itrequires the preservation of natural visibility within the major national parks and wilderness areas. Fourth, it requires the EPA to establish emission standards that