An illustration of the affordable housing issue. (Nata-Lia, via Shutterstock)OPINION: We generally think it a big success when public policy successfully fixes a serious problem. Right now, smart California policies are effectively tackling three major issues at once: housing, traffic, and climate change. Anyone not living under a rock knows that California faces an unprecedented crisis in housing affordability.
As rush hour approaches, traffic on the Golden Gate Bridge. (Photo: Frontpage)Permission slips covering an array of fuels used in California – and which account for nearly 40 percent of the state’s carbon emissions – will be put on the auction block as part of the state’s landmark law to curb climate-changing greenhouse gases.
A computer-generated image of the proposed California bullet train. (Photo: High Speed Rail Authority)Hundreds of millions of dollars from California’s auctions of carbon emission credits are being tapped to help finance the $68 billion bullet train project. In subsequent years, a fourth of the auction money will go to the train. The budget requires the governor’s signature to take effect.
Gov. Brown’s rewritten budget borrows $500 million from California’s cap-and-trade auctions and diverts the money for use in other state programs – a move that drew immediate fire from clean-air advocates.
The administration said the $500 million represents a one-time loan and will be paid back, with interest. Tapping the money was proper, the
As California’s cap and trade auction moves forward, ethical people of all viewpoints should be able to agree that citizens deserve an open and transparent process. Assemblywoman Shannon Grove and Senator Ricardo Lara have introduced important accountability measures, AB 245 and SB 726 respectively, that would place the cap and trade auction back in the
California’s second cap-and-trade auction is being held today, with more than 23 million greenhouse gas emission credits on the block.
The credits, known as allowances, allow industries and other emitters of greenhouse gases to continue in operation as they gradually reduce emissions as required by state law. Several hundred entities are expected to participate
Companies spent nearly $100 million an hour to buy carbon pollution credits at California’s first auction under the state’s law to curb greenhouse gas emissions.
Despite the hefty price tag, the final per-credit price was nearly the bare-minimum — $10 each — required by the auction and more than $2 below the per-credit market
It was kind of like eBay.
For three hours on Wednesday, millions of dollars worth of pollution credits were expected to be sold to scores of companies at California’s first auction under the state’s 2006 law to curb greenhouse gas emissions.
The auction, which went forward despite legal challenges, is unique among the states,
With time short before California rings the bell on its own carbon market, this is an appeal directly to our state’s regulatory leadership.
Stop.
Do what you said you would do if the evidence was clear that California’s “cap-and-trade” program is not ready to roll out later this month.
At minimum, slow