Sometimes it seems as if California’s cap-and-trade program can’t catch a break. A 2016 law established an ambitious target of reducing greenhouse gas emissions to 40% below 1990 levels by 2030. Among its challengers is the California Air Resources Board, which manages the cap-and-trade program. LAO Meager auction results in May and August 2016 had people fretting that the cap-and-trade program was failing; but buying was vigorous through most of 2017. Meager auction results in May and August 2016 had people fretting that the cap-and-trade program was failing; but buying was vigorous through most of 2017.

Source: Los Angeles Times January 12, 2018 19:41 UTC