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Friday, October 21, 2011

California Becomes First State To Adopt Cap-And-Trade Program

The Air Resources Board has a mechanism to protect consumers from price spikes by capping the auction price and releasing credits onto the market to drive down prices. . . .

The independent Legislative Analyst’s Office concluded that jobs probably will be lost because businesses can move elsewhere. Other business leaders applaud the regulations, arguing that the plan gives industry some certainty and a mechanism to reduce carbon emissions. Proponents and the Air Resources Board say the increase in “green” jobs will outweigh short-term negative effects.” (Los Angeles Times)

Price controls, the “green jobs” multiplier, and Baptists/bootleggers support from “business leaders.”  This is bound to work.

FEE Timely Classic

We Want To Be Regulated” by Bruce Yandle