Good News For California’s Cap-And-Trade

Recent plans announced by the White House, speeches from the Obama bully pulpit, and a proposal from a committee of the European Parliament that would increase the price of carbon allowances and credits on the European market, all bode well for the viability of California’s cap-and-trade program. So too does a recent Obama administration decision to increase the assumed cost of greenhouse gas emissions for cost-benefit analysis to 35 cents a ton, up from 21 cents.