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Posted at 11:50 AM ET, 12/17/2010

California establishes carbon market

By Juliet Eilperin

While cap and trade may be dead in Washington, it's alive and well in California.

Late Thursday the California Air Resources Board approved the establishment of a carbon market that will allow the state's greenhouse gas emitters to buy and sell emission allowances.

The new regulation will cover 360 businesses representing 600 facilities. It has two phases: in 2012 all major industrial sources and utilities will be covered; by 2015 distributors of transportation fuels, natural gas and other fuels will also be included.

California aims to reduce its overall carbon output 15 percent by 2020 compared to current levels under the program, as mandated under the state's landmark 2006 climate law, A.B. 32. Just this fall, the state's voters rejected Proposition 23, which would have suspended the law.

"This program is the capstone of our climate policy, and will accelerate California's progress toward a clean energy economy," said CARB Chairman Mary D. Nichols. "It rewards efficiency and provides companies with the greatest flexibility to find innovative solutions that drive green jobs, clean our environment, increase our energy security and ensure that California stands ready to compete in the booming global market for clean and renewable energy.

Environmentalists also praised the move. Kristin Eberhard, Legal Director of Western Energy and Climate Projects at the Natural Resources Defense Council, issued a statement saying, "The adoption of this unprecedented carbon market to reduce pollution is a key milestone that will enable California to forge ahead with a clean energy economy.. This is an economically sound program that will send a steady market signal driving innovation in clean energy, reducing pollution and mitigating oil price shocks while creating jobs and promoting economic growth."

By Juliet Eilperin  | December 17, 2010; 11:50 AM ET
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Next: National Commission on Energy Policy shuts down


Global warming performance.

Posted by: cappcharlie | December 17, 2010 12:30 PM | Report abuse

We in the True West will continue to be half of the US GDP.


We do.

You whine about how hard it is.

By the way, I'd like to thank the Red states for turning down the high-speed passenger and freight rail money.


Our states are building the 21st Century while you keep importing Chinese goods.

We export while you import.

And you wonder why your states are doing worse than we are?

Posted by: WillSeattle | December 17, 2010 3:28 PM | Report abuse

and they wonder why/how California is bankrupt...

Posted by: silencedogoodreturns | December 17, 2010 4:53 PM | Report abuse

as a suspected gas causng the globalwarming warming and related climate patternchange, CO2 c2an no longer be considered harmless gas anymore. consequenquently, the proposed carbon emission' trade policy may not be aceptable for solving the global warming issue. The continued accumulation ofCO2 in the air or free space must be alleviated through some sotrt of the batment conpt. otherwise, the real issue, globalwarming won't go away or it may bebomes worse year by year if we keep burningcarbon-based fuel as energy source.

Posted by: yylin | December 18, 2010 12:09 AM | Report abuse

This new legislation is great news for our customers. It creates a new revenue stream for them based on the value of their reduced emissions from using FPC. Our extensive testing has shown that users of FPC reduce their CO2 emissions more than 8% on average. If the value of CO2 is $10/metric ton, then this new revenue stream will amount to thousands of dollars per month for our typical users.

We have a calculator on our web page that details all of the savings FPC provides.

Chris Riegel

Posted by: criegel | December 18, 2010 12:12 AM | Report abuse

After the Enron debacle maybe enough Californians have risen up to revolt against the lies of the big energy monopoly.

Posted by: glenglish | December 18, 2010 12:40 AM | Report abuse

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