Posted: Nov 12, 2012 12:27 PM by The Associated Press
SAN FRANCISCO (AP) - California's largest greenhouse gas emitters will begin buying permits in a landmark "cap-and-trade" system designed to control emissions of heat-trapping gases and to spur investment in clean technologies.
The program is the most wide-ranging of its kind in the nation and a key part of California's 2006 climate-change law, AB32. The regulations dictate standards for cleaner-burning fuels, more efficient automobiles and increased use of renewable energy.
For the first time, the California Air Resources Board will auction off pollution permits on Wednesday called "allowances" to hundreds of businesses, including electric companies and refineries.
Some of the businesses regulated under California's plan say the extra costs will result in higher electricity rates and job losses.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
PLEASE HELP US MODERATE COMMENTS
Offensive or inappropriate comments are subject to removal. To report a comment, please e-mail us at firstname.lastname@example.org, and include the name of the story and information on the comment.
Thank you! KSBY.com
Get deals up to 80% off here!
Find the lowest gas prices in your area
Submit your photos to KSBY
Check out our calendar of events
Save with Hot Deals across our counties!
Events across the Central Coast
Follow The CW5 on Facebook.
The KSBY online public file.
What do you think? Leave us your feedback.
KSBY is your official CA Lottery station for San Luis Obispo and Santa Barbara Counties