Just ahead of today's midterm election, California regulators established a preliminary model for a greenhouse gas cap-and-trade system. The system is intended to help the state control industrial greenhouse gas emissions in aggregate in adherence with its progressive, controversial AB32 air pollution law which legislature passed there in 2006.
Currently, California requires reporting by facilities and companies that emit 25,000 tons of greenhouse gases or more each year. Originally, AB32 laid out plans to reduce carbon dioxide (CO2) emissions from industrial sectors and electricity by 25% by the year 2020 restoring them to 1990 levels.
Fuel suppliers would come under the air emissions "cap" in 2015. The program would begin to take effect in 2012, with the California Air Resources Board (ARB) monitoring and enforcing the law. The midterm election results in California will determine if AB32 remains on course...
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