At least 1 flower blooms: CARB releases cap-and-trade draft regulation

Posted: Nov 6, 2010

Written by

MICHAEL WARA, Environmental and Energy Insights

Last Friday, the California Air Resources Board (CARB) released its draft cap-and-trade regulation for public review and comment. I haven’t had a chance to go through the entire proposal in detail yet but a few issues are immediately striking about CARBs draft rule.

The rule represents a significant concession to business interests in the state that are very concerned about the costs of an emissions trading program. Is that a bad thing? Probably not in this case, largely because the toughness of the Preliminary Draft Regulation (PDR), released earlier this year, left plenty of space for CARB to make concessions to industry.

The draft rule appears in its major structural components, to be one of the most thoughtfully designed cap-and-trade programs proposed to date. Mary Nichols and her staff at CARB deserve to be congratulated both for their political and their policy acumen.


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