cap-and-trade
Cap and Trade’s Future in California, Redux
Litigation, AB 197 and Politics May All Have an Influence
Two days ago, I posed a series of questions about what AB 197 might mean for the future of cap and trade in California but never really answered the question of whether we’re likely to see a continuation of the program going forward post-2020. Eric posted his view this afternoon that he is relatively pessimistic …
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CONTINUE READINGThe future politics of cap-and-trade in California
It doesn’t look so good for the oil and gas industry
As Ann and Ethan both noted, two major pieces of climate legislation were passed by the California legislature this week, and Governor Brown has promised to sign both bills. Overall, the legislation extends the state’s greenhouse gas reduction goals (which were originally to reach 1990 levels of emissions by 2020) out to a 40% reduction …
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CONTINUE READINGDoes AB 197 Mean the End of Cap and Trade in California?
Language Directs the Air Resources Board to Prioritize Direct Emissions Reductions
As Ethan’s post recounts, the California Assembly today passed AB 197, a bill linked to SB 32, which extends California’s climate goals to 2030 and requires emissions reductions by that year of 40 percent below 1990 levels (see my post from yesterday describing the bills and how they are linked). The passage of the two …
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CONTINUE READINGBREAKING NEWS: Final Hurdle For California’s 2030 Climate Bill Passes Assembly
Governor vows to sign AB 197, SB 32’s “conjoined twin”
There was a bit of added drama to the passing of SB 32 yesterday in the California Assembly, as the passage was dependent on the state enacting AB 197. The Assembly debated AB 197 this morning, and it passed out of the natural resources committee with six votes in favor and one opposed. It then …
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CONTINUE READINGSB 32 Passage Great News But Legislature Needs to Pass AB 197 Too
AB 197 Would Curtail California Air Resources Board Power, Potentially Restrict Cap-and-Trade
Ethan reported the good news today that the California Assembly passed SB 32, legislation that would extend California’s landmark climate change legislation to 2030 and require deeper cuts in emissions. The original legislation, AB 32, required that California cut its emissions to 1990 levels by 2020. SB 32 requires that the state achieve a 40 …
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CONTINUE READINGA Small-Government Approach to Pricing Carbon
We can impose a price on carbon without a tax or emissions trading. Here’s how.
Cap and dividend is a politically appealing idea; put a price on carbon, then refund the money to consumers in equal shares. But conservatives and libertarians object to this idea on two grounds. First, cap-and-trade systems are complex and require a lot of regulatory oversight. Second, if the government collects the money, despite its current …
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CONTINUE READINGCalifornia’s Cap-and-Trade Program After 2020
ARB publishes draft climate regulations that would extend the program
Against a backdrop of complex Sacramento politics on the future of California’s climate regulation, the state’s Air Resources Board last week issued an initial draft of regulations that would, among other things, extend the cap-and-trade program beyond 2020. Does ARB currently have the authority to do that? Yes, probably. But it’s complicated enough to leave room for disagreement. Here’s one version …
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CONTINUE READINGThe Cap-and-Trade Auction: Still Not a Tax
Folks are talking again about whether California’s climate cap-and-trade auction is an unlawful tax, rather than a valid exercise of the state’s regulatory power to control pollution. The news hook for the revival of this conversation is a recent order, discussed below, from the California Court of Appeal to the parties in the court case where …
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CONTINUE READINGDoes Pope Francis Really Hate California’s Cap-And-Trade Program?
Encyclical take a negative view that may be misplaced
As Dan and Jonathan noted, the Pope weighed in on Thursday with strong moral arguments in favor of addressing climate change. But in his landmark encyclical, he apparently bashed cap-and-trade as a means of addressing carbon pollution: “The strategy of buying and selling ‘carbon credits’ can lead to a new form of speculation which would …
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CONTINUE READINGThe 2014 Midterm Elections and the EPA Greenhouse Gas Rule
Why Republicans probably won’t be able to eliminate the EPA rules before 2016
I wrote earlier about why the 2016 Presidential election will be the election that matters (politically) for the long-term success of the new greenhouse gas rules proposed by EPA. (The status of legal challenges is a different question.) I want to elaborate a little more now about why the 2014 midterm elections are pretty much …
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