California Launches ‘Pay-to-Pollute’ Carbon Market

California is holding its first auction in the “cap and trade” program where industrial businesses will have to buy allowances to emit greenhouse gases. “What California is attempting to do is to become a model. And if you look at history, Calif has done this many times in the past,” says Anthony Eggert, a former advisor to the California Air Resources Board and current director of the Policy Institute for Energy, Environment and the Economy at UC Davis.

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