The good news is that California has moved closer towards mandatory controls on greenhouse gas emissions. The bad is that they are taking a go slow approach that coddles polluting industries and is disproportional to the magnitude of the climate change threat. Proposals to establish a market based system to limit emissions that is able to be adjusted over time is clearly the correct policy prescription, but every day of delay in establishing and implementing such a system is a lost opportunity to reduce the magnitude of the crisis. To half lead with half steps does not solve the problem at all.