| California is the incubator for US environmental regulation. Its clean air, water, and energy standards invariably presage similar efforts nationwide. California’s eco-friendly culture deserves tremendous credit for this, but it’s the state’s strong economy and colossal buying power that silence critics who argue green laws are bad for business.
Which makes the drama surrounding the Golden State’s cap and trade system quite interesting. On one hand, the system works beautifully. In its first two years, it has systematically cut greenhouse gas emissions. But cap and trade was supposed to generate millions of dollars for clean air projects. It did, until recently...............................................Full Article: Source
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