Monday, November 19, 2012

Cap and Trade Auction Kicks Off California's Pollution Marketplace

State regulators are calling California’s first ever auction of greenhouse gas pollution permits a success, selling 23 million permits, though at only nine cents over the minimum price. The auction sold out of the permits under the state’s Cap and Trade program, part of California’s effort to reduce global warming. It inaugurates the largest carbon emissions marketplace in the United States, and the second largest in the world, after the European Union. Christopher Martinez reports.