A component of California’s landmark offensive against greenhouse gas emissions is not sitting well with some environmental groups.
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.