cap-and-trade
BREAKING 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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CONTINUE READINGEPA’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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