Why CA Carbon Auction and Overall AB 32 Approach are Doomed

This month marks the seventh anniversary of Arnold Schwarzenegger signing AB 32 amid an orgy of self-congratulation over this alleged environmental landmark. Ever since then, I’ve written regularly about the basic flaw of AB 32: reducing the emissions believed to cause global warming with a cap-and-trade market of pollution credits only works if most of the world follows the same approach. A single state, even California, can’t change anything on the margins. Read more…

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