Cap and trade
A component of California’s landmark offensive against greenhouse gas emissions is not sitting well with some environmental groups.
The Pacific Legal Foundation filed suit Tuesday in Sacramento County Superior Court, arguing the state’s so-called cap-and-trade system is an illegal tax.
The sale of California’s first pollution permits will generate less money than expected for the state budget.
State regulators say California’s first auction of greenhouse gas emissions permits went smoothly, and all of the pollution permits available for 2013 were sold.
California’s new system for limiting industrial greenhouse gas emissions by putting a price on carbon is not likely to spur a similar federal program anytime soon, but it might influence other states to follow suit.
California has begun auctioning permits for greenhouse gas emissions, launching what is expected to be the world’s second-largest carbon market.
California’s largest business group filed a lawsuit Tuesday challenging the validity of the state’s cap-and-trade program on the eve of the first pollution permit auction.
California’s largest greenhouse gas emitters will begin buying permits in a landmark “cap-and-trade” system designed to control emissions of heat-trapping gases and to spur investment in clean technologies.
Dozens of people, some wearing red “Save Our Jobs” T-shirts, packed a public meeting on Thursday to testify that a key component of California’s landmark greenhouse gas emissions law will impose enormous costs on them and consumers.
California’s plan to build the nation’s first high-speed rail system has identified one alternative funding source if federal and private-sector money does not materialize.