Tag: cap and trade
New rules for existing power plants could mean more partners for California's carbon market.
State Senator Darrell Steinberg is proposing a carbon tax on gasoline that would put a price on the pollution that causes climate change. The plan would also dismantle a key piece of California's existing climate law.
Environmental groups are generally lauding Governor Jerry Brown's new budget, which includes an outline for spending revenue from the state's carbon auctions.
Despite its deserved reputation for climate leadership, California will have to hustle to make its own long-range emissions goals.
Cash rolling in from sales of carbon pollution permits to industry will amount to something on the order of $500 million in this first year of the program. Brown says the carbon-cutting programs the money is supposed to go to aren't ready for prime time, and in the meantime the funds can help balance the state budget.