Regulation
Allowance 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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CONTINUE READINGWill California’s Cap and Trade Program Stimulate Innovation?
Holly’s latest post about a new study showing that cap-and-trade programs have not led to technological innovation ends with a cautionary note that raises the key question about innovation and cap-and-trade programs to reduce greenhouse gas emissions: These results [showing no innovation] don’t mean that cap-and-trade has no role to play in policies directed at climate …
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CONTINUE READINGSupreme Court Sides With Property Owners in Wetlands Dispute With USEPA
The U.S. Supreme Court issued its decision in the most closely watched environmental case on the Court’s docket this Term: Sackett v. U.S. Environmental Protection Agency. As expected following an especially lively set of oral arguments in the Sackett case earlier this year, the justices ruled–unanimously–in favor of the private property owners who had brought …
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CONTINUE READINGA Post Script to Steve’s Post about the Nuclear Renaissance
This just in from the NY Times: The Nuclear Regulatory Commission said a June breaker fire at the 478-megawatt Fort Calhoun nuclear plant was of “high safety significance,” increasing work the Omaha Public Power District (OPPD) must complete before the troubled unit can restart. The NRC’s preliminary “red” safety violation, the agency’s most serious classification, …
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