Tag: "cap and trade"
Now we have a first glimpse of how California's experiment in carbon trading is working out. The state's first auction of industrial permits for greenhouse gases actually happened last week–but results were released on Monday.
Cap-and-trade will initially regulate the industrial sector and utilities. Eventually, fuels will be phased into the program, too. It's all part of AB 32, the law that requires California to bring greenhouse gas emissions back to 1990 levels by 2020. Here's a breakdown of where the emissions come from.