Friday, December 17, 2010

California Goes It Alone On Cap-and-Trade

As if Californians didn't have enough problems, California is forging ahead with a Cap-and-Trade system. Companies will be forced to reduce CO2 emissions or buy carbon offsets from those who do. This will create energy inflation in California and force companies to consider relocation.

The Los Angeles Times reported:
California regulators Thursday are expected to adopt the nation's most comprehensive carbon trading regime, creating a market-based way to lower greenhouse gas emissions at a time when similar efforts have stalled in Congress.

The program is the centerpiece of the state's 2006 global warming law, which aims to slash carbon dioxide and other planet-heating pollution to 1990 levels by 2020. That would amount to a 15% cut from today's level.

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