Cap and kill
Opinion Page Editor
California Gov. Jerry “Moonbeam” Brown lived up to his nickname last week when he signed the state’s proposed cap and trade legislation into law.
Starting in 2013, California’s Air Resources Board (CARB) will give polluters an allowance of carbon credits (the amount of carbon they can emit) at the beginning of each year based on emissions reductions benchmarks. If a company doesn’t use all of its credits, it can sell them — hence the “trade” part. And if a company knows in advance that it will emit too much carbon, it can buy those credits or its own carbon offsets and keep polluting, just at a cost.
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