In November 2012, California launched its cap-and-trade program, the second largest in the world after the European Union’s. Fears of California sinking under the weight of a cap-and-trade program appear to be premature. A University of California, Davis report written last year, of which the WSPA was a sponsor, has shown such fears are overblown.

Institute of Transportation Studies

University of California, Davis

1605 Tilia Street, Davis, CA 95616

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