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CalEPA Chief Signals Openness To Strengthening Cap & Trade Program

June 25, 2020
CalEPA Secretary Jared Blumenfeld is signaling an openness to tightening the state’s greenhouse gas cap-and-trade program amid longstanding calls to do so by some state lawmakers and academics, a potentially major shift that could include cutting the number of credits freely allocated to industry and significantly increasing the price of allowances. Blumenfeld is citing the widespread impacts from the COVID-19 pandemic, which slashed the amount of revenue generated by the most recent cap-and-trade auction after a significant slowdown in economic...

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