Times Union: If the law of supply and demand holds true, then the nation’s first auction of pollution rights to combat global warming was a success. New York state was not ready for the inaugural auction of the Regional Greenhouse Gas Initiative, but six other states sold off rights last week to about 12.5 tons of carbon dioxide, a known greenhouse gas. Demand was high, with 59 bidders seeking nearly four times as many allowances as were offered. Other bidders included financial …