California gives final OK to cap and trade (xpost)

[bananas]

From LBN Thursday:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x5033160

California gives final OK to cap and trade
Source: SF Chronicle
(10-20) 19:33 PDT Sacramento --

California's plan to cap greenhouse gas emissions and put a price on carbon is set to take effect on Jan. 1 after the Air Resources Board voted Thursday to make final adjustments in the regulation.

The state board first passed the cap-and-trade program last December. But the board, which normally allows its staff to finalize details, took the unusual step of personally tying up the loose ends of the nation's only comprehensive limit on greenhouse gases. It is the last major regulation the board considered to meet the requirements of AB32, California's greenhouse gas reduction law passed by the Legislature in 2006.

The law requires the state to reduce carbon dioxide emissions to 1990 levels by 2020. The cap-and-trade element covers about 20 percent of that goal, with the majority of the other reductions coming from limiting the amount of carbon in fuel and requiring more efficient vehicles, renewable energy mandates and energy efficiency requirements.

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/10/20/BA901LK83V.DTL&ao=all