California debuts landmark cap-and-trade system

Posted by Washington Post: Juliet Eilperin on November 14th, 2012
Associated Press: CALIFORNIA PERMITTING: California has begun auctioning permits for greenhouse gas emissions, launching what is expected to be the world's second-largest carbon market. CENTRAL PIECE: The plan is a central piece of the state's 2006 global warming law, a suite of regulations meant to dramatically reduce emissions of heat-trapping gases. Businesses must either cut emissions to cap levels or buy allowances from other companies for each extra ton of pollution discharged annually. CHAMBER OPPOSITION:......

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