California Air Resources Board is Expected to Adopt the California Cap and Trade Program at today's hearing.
According to the Air Resources Board, the Program:
- Limits emissions from sources responsible for 85 percent of California’s Green House Gas emissions;
- Establishes the price signal needed to drive long-term investment in cleaner fuels and more efficient use of energy; and
- Affords covered entities flexibility to seek out and implement the lowest-cost options to reduce emissions.
For more details see the Initial Statement of Reason at http://www.arb.ca.gov/regact/2010/capandtrade10/capisor.pdf