Regulation
What happens if not all allowances are sold at the first cap-and-trade auction?
California held its first cap-and-trade auction for greenhouse gas (GHG) allowances yesterday. The California Air Resources Board (CARB) will announce the results from that auction on Monday, Nov. 19. What happens if not all the allowances are purchased at the auction? The short answer is that unsold allowances will be withheld from the market and …
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CONTINUE READINGBP Agrees to Plead Guilty to Felony Charges Arising Out of Deepwater Horizon Disaster
The Wall Street Journal is reporting that British Petroleum has agreed to plead guilty to felony charges stemming from the Deepwater Horizon disaster that killed 11 workers and precipitated the worst offshore oil spill in U.S. history. As part of the plea bargain, BP has agreed to pay the federal government $4.5 billion in penalties, including …
CONTINUE READINGWhy California’s cap-and-trade auction is not a tax
Yesterday, Ann and Cara gave their initial reactions to the California Chamber of Commerce lawsuit against California’s cap-and-trade auction. The main thrust of that lawsuit is that the auction (that happens today) is an unconstitutional tax because, according to the lawsuit, AB 32 gave the California Air Resources Board (CARB) no authority to withhold and …
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CONTINUE READINGWhy Was the Lawsuit Challenging California’s Cap-and-Trade Auction Filed Just One Day Before the Auction?
As Ann posted earlier today, the California Chamber of Commerce has filed a petition for writ of mandate in a California superior court, alleging that the auction of allowances to emit carbon dioxide scheduled for tomorrow constitutes an illegal tax and is not authorized by the California law AB 32. AB 32 requires the state …
CONTINUE READINGBreaking News: California Chamber of Commerce Sues over AB 32 Auction
The California Chamber of Commerce has launched the first industry lawsuit against the auction portion of California’s cap-and-trade program on the basis that auctioning off allowances constitutes an unauthorized, unconstitutional tax. The complaint was filed today in Sacramento Superior Court and seeks to stop the auction and have the auction regulations declared invalid. The Chamber argues …
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CONTINUE READINGNew Developments for Cap-and-Trade in California
There’s big news for California’s cap-and-trade program to control the state’s greenhouse gas emissions on two fronts this week. Cara alluded to the first in her post this week about California Democrats gaining a supermajority in both houses of the legislature after Tuesday’s election. The legislative development is important because the state legislature can probably …
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CONTINUE READINGThe Senate Races and the Environment
In a series of posts, I surveyed the key Senate races — meaning those that didn’t seem to be “locks” for either candidate. (i didn’t include the McCaskill-Akin race, which McCaskill won.) The candidates differed greatly in their positions on the environment and on energy policy. Here is a quick summary of what was at …
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CONTINUE READINGEnvironmental Values and Political Polarization
While we all wait for tonight’s election returns, it’s worth taking a look at some of the trends that driving the votes. We’re been seeing a lot of polls lately about candidates, but in some ways issues polls are more interesting. Many people have noted the decline in support for environmental values among the public. …
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CONTINUE READINGCalifornia’s Proposition 30 and the Environment
With so much attention paid to the presidential race, it’s easy to overlook the fact that California’s fiscal future is on the ballot tomorrow, with consequences for the environment. Proposition 30 represents Governor Jerry Brown’s attempt to stave off harsh cuts to the state budget, a situation brought on by declining tax revenues in the …
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CONTINUE READINGWhat Would Romney Do? How Reelection Strategy Could Shape a Romney Presidency
If Romney is elected president tomorrow, the sun will still rise in the east and sea will still be salty. Beyond that, predictions about a Romney presidency become more difficult, given his exceptionally inconsistent history on the issues. As I showed in an earlier post, Romney’s views about environmental and energy issues flipped 180° between …
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