How California's cap-and-trade program for carbon emissions works
from The Press Democrat
California's cap-and-trade program, established by the Global Warming Solutions Act of 2006, promotes the state's goal of reducing greenhouse gas emissions to 1990 levels by 2020. The program created one of the largest carbon credit markets in the world and one of two in the United States. It sets a collective emissions cap on about 450 of the state’s largest polluters, including power generators, refineries and cement plants, which emit more than 25,000 tons of greenhouse gases a year.
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