erc louise summary notes roseville pollutant tons cost nox 51 21 5 1 1 mm voc 187 27 5 5 2 mm sox 56 6 0 3 mm pml 0 362 29 10 6 mm options 0 5 mm total 17 7 mm san joaquin pollutant tons cost nox 326 21 6 9 mm voc 22 7 5 0 2 mm sox 36 6 0 2 mm total 7 3 mm bay area pollutant tons cost various 46 11 0 5 mm total 25 5 mm san joaquin could sold 3 mm 6 mm gain proceeding calpine cantor enron desk sale roseville bay area erc would result significant discount 40 50 air districts would upset basically could apply transfer discount credits 15 25 also could make future transfers conditional upon approval increasing risk buyer sale would also cause collateral damage future erc activities enron would seen speculator carpetbagger recommendation pursue sale san joaquin credits put balance global finance funding vehicle initial indication transfer credits finance purposes easy air district accept setting call discuss finance legal kelly brodbeck chris calger 503 464 3735