California passes cap-and-trade bill
And let it begin with California.
California will become the first state in the country to require industries to lower greenhouse gas emissions under a deal struck Wednesday by Gov. Arnold Schwarzenegger and Democrats that could dramatically reshape the state’s economy …
By 2020, when industries would have to lower carbon dioxide and other greenhouse gases by 25 percent, solar panels, alternative fuels, and electric cars could be commonplace, according to advocates of the legislation …
The legislation will require all businesses, from automakers to cement manufacturers, to reduce emissions beginning as early as 2012 to meet the 2020 cap. The state’s 11-member Air Resources Board, which is appointed by the governor, will be charged with developing targets for each industry and for seeing that those targets are met. The board now will embark on a years-long process to fully develop regulations. The board could impose fees on some industries to pay for new programs that could do everything from requiring truckers to use biodiesel fuels to forcing farmers to handle animal waste differently.
The board is likely to set up a trading system that will allow companies to buy and sell emission credits, which would allow a company that made more emission reductions than required to sell credits to another business that hasn’t reached its emission goal.
Progress. Once again, state leadership is stepping into the vacuum left by the feds’ suicidally blasé approach to global warming.
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