Saturday, October 22, 2011
California Finally Adopts Cap and Trade Program
The Center supported AB 32 and supports California's cap and trade program.
Some businesses regulated under the program argue it will increase the price of electricity for consumers and hurt job creation by raising the cost of doing business in the state. But the program's supporters expect cap-and-trade to spur economic recovery and innovation, by pushing business to invest in clean technologies.
While implementation of some parts of the program will begin in 2012, compliance for power plants and other of the worst polluting facilities actually starts in 2013, with others joining in 2015. In total, the plan will cover 85 percent of California's emissions.
In response to these concerns, the board on Thursday also approved a new "adaptive management plan," under which the air quality of neighborhoods near power plants and other regulated facilities will be monitored to see if any more pollution results from cap-and-trade. If increases are found to be a result of cap-and-trade, the board said it would respond. (Anchorage Daily News, AP, 10/19/2011)