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Xpost: California’s Carbon Trading System Is Going So Well They Sold Out Of Permits
California’s Carbon Trading System Is Going So Well They Sold Out Of Permits
BY JEFF SPROSS ON AUGUST 22, 2013
If sales from the latest auction of carbon permits under California’s new cap and trade system are any indication, industry is taking seriously the state’s determination to cut its emissions.
Friday’s auction was the fourth since the program’s debut last November, and it marked the first time demand for permits for the years beyond 2013 actually overwhelmed supply. The sellout “really shows that these companies, probably the big oil companies, are preparing for the longevity of this market,” Emily Reyna, senior manager of partnerships and alliances for the Environmental Defense Fund, told Bloomberg Businessweek.
To explain...
BY JEFF SPROSS ON AUGUST 22, 2013
If sales from the latest auction of carbon permits under California’s new cap and trade system are any indication, industry is taking seriously the state’s determination to cut its emissions.
Friday’s auction was the fourth since the program’s debut last November, and it marked the first time demand for permits for the years beyond 2013 actually overwhelmed supply. The sellout “really shows that these companies, probably the big oil companies, are preparing for the longevity of this market,” Emily Reyna, senior manager of partnerships and alliances for the Environmental Defense Fund, told Bloomberg Businessweek.
To explain...
Originally posted in Good Reads at http://www.democraticunderground.com/101671785