The Global Warming Solutions Act of 2006, commonly referred to as AB 32, established the goal of reducing greenhouse gas emission statewide to 1990 levels by 2010. In order to help achieve this goal, the CA Air Resources Board (ARB), has adopted a new “cap-and-trade” program that places a “cap” on entities responsible for 80% of the state’s emissions.
As a result, the ARB has issued carbon allowances that these entities will, in turn, be able to “trade” –buy and sell– on the open market. Its proponents say a cap-and-trade program offers the potential to reduce emission more cost-effectively than using traditional regulations. Its detractors say it will hurt the economy and job growth.
What exactly is a “cap & trade” program and how is it supposed to work? Is the new roll out proving successful or have there been glitches? What impact will CA’s “cap & trade” program have on the air quality, the economy, jobs, and the state budget?
Tiffany Roberts, an air quality and climate change expert with the LA; James Goldstene, Executive Officer of the CA Air resources Board; Allan Zaremberg, CEO from the CA Chamber of Commerce; and Timothy O’Connor, Director of the CA Climate Change Initiative with the Environmental Defense Fund comment on this episode of the Maddy Report.
Commentary provided by Paul Hurley, retired Visalia Times Delta editor; Professor Nate Monroe of UC Merced; and Casey Creamer with the CA Cotton Ginners and Growers Association.
ORIGINAL AIR DATE: FEBRUARY 11, 2013