cap-and-trade
EPA’s Proposed Greenhouse Gas Emissions Rules Are Remarkably Business-friendly
Business wins on baseline year, flexible compliance methods will keep costs down
President Obama’s EPA will tomorrow issue proposed greenhouse gas limits for existing power plants. By all accounts the rules will be a remarkable step forward in the fight against global warming, with the U.S. finally demonstrating significant leadership on an issue on which it has lagged behind for more than a decade. And yet from …
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CONTINUE READINGWhat are California Legislators Thinking About Cap-and-Trade?
CA Senate Hearing at UCLA Focuses on Ways to Spend Auction Revenue
Today, UCLA’s Emmett Center and IOES hosted a hearing of the Senate Select Committee on Climate Change and AB 32 Implementation with Senators Pavley, Correa, de Leon, deSaulnier, Lieu, and Assemblymember Bloom attending. The hearing featured testimony on climate science, on AB 32 implementation, and on opportunities to invest revenue from the state’s cap-and-trade auctions in ways that …
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CONTINUE READINGThe Rhetoric of Cap and Trade
Different ways of framing the concept of cap and trade help drive the public debate.
Discussions of cap and trade tend to frame it in various ways, which often skews the debate. These different frameworks guide the thoughts of both supporters and critics, sometimes in surprising ways. There are four different ways to talk about cap and trade, and they tend to lead the debate in very different directions. The …
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CONTINUE READING(Tentative) ruling in cap-and-trade case looks good for CA: ARB has auction authority
It’s never over till it’s over, but for now California is breathing a little easier as it defends its cap-and-trade allowance auctions from two high-profile industry challenges. The cases, which Ann has discussed here and here, were filed by the California Chamber of Commerce and the Pacific Legal Foundation, and they make both statutory and …
CONTINUE READINGConstitutional Issues in Cap and Trade: New Light from an Unexpected Source
At the end of April, the Supreme Court decided an obscure case called McBurney v. Young about state public records law. Quite unexpectedly, the court’s opinion turns out to be good news for state environmental regulators. In particular, it clarifies how cap and trade relates to what lawyers call the dormant commerce clause — a …
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CONTINUE READINGSecond California cap-and-trade auction sells almost $225 million worth of allowances
Results are in from California’s second cap-and-trade auction. California Air Resources Board (CARB) offered 12.9 million 2013-vintage allowances along with 9.56 million 2016-vintage allowances. CARB sold all of the 2013 vintage at $13.62 per allowance and almost half (4.44 million) of the 2016 vintage at $10.71 per allowance. In total, that amounts to a bit …
CONTINUE READINGThe State of the Union — Energy and Climate Change
A very lengthy discussion of energy– some good language on energy efficiency and renewables, some not-so-good language about oil, but with an overall emphasis on technological innovation. Here’s what the President said about climate change: And over the last four years, our emissions of the dangerous carbon pollution that threatens our planet have actually fallen. …
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CONTINUE READINGUC Berkeley report demonstrates need for strict resource shuffling rules in cap-and-trade
The Energy Institute at Haas, part of UC Berkeley, has a new study that looks at California’s rules for regulating electricity importers in the cap-and-trade program. These rules attempt to keep importers from gaming the cap-and-trade system via resource shuffling. The Energy Institute has simulated different counterfactual cap-and-trade rules using 2007 electricity market data. The …
CONTINUE READINGPut That In Your Tank and Smoke It
The next time anyone tells you that an increase in gasoline prices (say, as part of a carbon-tax or a cap-and-trade system) would generate unbearable costs to consumers, think again. The Los Angeles Times reports something that I have often seen but never really thought through: gasoline stations often a couple block away from each …
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CONTINUE READINGYes, California Can Spend the Cap-and-Trade Auction Proceeds
California’s 2012-13 budget assumed that $500 million of cap-and-trade auction proceeds could be used to offset the cost of greenhouse gas emission reduction programs traditionally supported by the General Fund. Two recent stories, one in the San Francisco Chronicle, the other in ClimateWire, report that since the California Legislative Analyst’s office found only $100 million …
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