On January 17, in announcing its March 14 auction, seven of the Regional Greenhouse Gas Initiative’s nine states said they will retire 87 million carbon dioxide emissions allowances that went unsold during the past six auctions. Between 2009 and 2011, RGGI has held 14 auctions and sold 393 million allowances. This announcement comes as RGGI is reviewing its overall emissions cap. For a variety of reasons, including warm weather and the recession, have led the organization to consider lowering the cap. The existing cap of 188 million tons was intended to last through 2014, which would then lower it by 2.5 percent per year over the next four years.