Regulation
How California could surpass $1 billion in cap-and-trade auction revenue by 2013
Last week I did a series of posts examining the amount and potential price ranges for allowances in California’s upcoming cap-and-trade auctions for greenhouse gas emissions (GHGs). Knowing the estimated auction clearing price plus the estimated number of allowances to be sold at auction tells us the estimated revenue from that auction. Several estimates of …
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CONTINUE READINGCould Self-Driving Cars Help The Environment?
As companies like Google pioneer technologies to allow cars to drive themselves, futurists have been imagining a world where autonomous vehicles rule the roadway. Using computer programs, map data, complex sensors, and soon the ability to “see” all vehicles within miles, these cars hold the promise of averting the vast majority of car accidents caused …
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CONTINUE READINGCould standing save CEQA?
One of the recent complaints about CEQA has been that the statute has been abused by various parties who have no interest in protecting the environment, but instead are simply interested in either (a) raising costs for competitors or (b) using the threat of CEQA litigation to extract payments from project proponents. Various horror stories …
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CONTINUE READINGAllowance distribution in California’s cap-and-trade program (Part II: Industry)
Yesterday I developed a basic overview of the different categories of allowances in California’s GHG trading program. As promised, this post considers the number of allowances that California will freely give to specific industries. Why do we care about industry allowances? First, allowances have value and the Air Resources Board (CARB) has chosen to give …
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CONTINUE READINGOn the risks of CEQA exemptions
In the course of a very good post about the benefits of environmental review statutes such as CEQA, Jonathan ascribed to me the position that “policymakers should [not] continue to look for useful exemptions to CEQA” based on a prior post that I had written opposing recent (now enacted) legislation creating limited exemptions from CEQA …
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CONTINUE READINGAllowance distribution in California’s cap-and-trade program (Part I)
Yesterday, I described California’s GHG cap-and-trade auction and the likely constraints on the auction clearing price. Today I want to switch gears to the allowance distribution. As summarized in our recent paper on California’s auction revenue, once you know the number of allowances available at auction and the auction clearing price, you can estimate revenue. …
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CONTINUE READINGEnvironmental Law’s Lessons for the Health Care Mandate
The drafters of the health care reform law might have learned something from environmental policy makers when it comes to mandates and public opinion. When the five conservative U.S. Supreme Court justices expressed a visceral reaction against the government compelling citizens to buy health insurance last week, their distaste was not unlike the visceral reaction many …
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CONTINUE READINGAuction prices in California’s cap-and-trade program
This week, the Emmett Center released a new paper on the potential legal constraints on revenue generated from California’s upcoming greenhouse gas (GHG) cap-and-trade auction. In that paper, we provide a general overview of the cap-and-trade auction mechanism and discuss the potential revenue raised. I would like to expand on that discussion in a series …
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CONTINUE READINGWill California’s cap-and-trade program get 85% of its reductions from offsets?
Will California’s greenhouse gas (GHG) cap-and-trade program meet 85% of its required reductions with offsets? That is the claim made in a complaint recently filed in a California Superior Court, seeking to throw out California’s offset regulations. (Citizens Climate Lobby v. CARB.) The complaint cites a NY Times article from 2011, in which someone from …
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CONTINUE READINGNew paper on California’s cap-and-trade auction revenue
The Emmett Center on Climate Change and the Environment has just released a new paper that describes how California law may limit the ability of California’s legislature to allocate revenue from the upcoming cap-and-trade auctions. Written by fellow bloggers Cara Horowitz, Sean Hecht, Ann Carlson and myself, the paper is titled Spending California’s Cap-and-Trade Auction …
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