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California a barometer for US cap & trade

Source:  Copyright 2010, Carbon Positive
Date:  April 5, 2010
Original URL: Status ONLINE

California, the US’s largest state in economic terms and a long-time pioneer in environmental regulation, is now a barometer for the future of carbon cap and trade in North America as various emissions trading moves hang in the balance. Doubts over whether a far-reaching emissions cap and trade programme proposed by Republican governor Arnold Schwarzenegger will now come to pass have implications for the chances of a wider regional scheme taking off and federal moves to get a nation-wide energy and climate bill through Congress.

A tough recession in the US has bitten extra hard in California, boosting the stocks of opponents to the cap and trade scheme, set to begin in 2012. A coalition of forces led by oil companies are looking to petition a ballot question on stopping the scheme for the upcoming state election in November. The argument being put is that now is the wrong time to impose new cost burdens on industry that is already suffering hard economic time which ...

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