California Climate Plan’s Auction Results Show Carbon Caps Move Us Toward a Cleaner Future

SACRAMENTO (February 25, 2015) – The California Air Resources Board announced today the results of the first carbon auction with polluting fuels such as gasoline included under the cap. For the first time, the oil industry joined other major industries across California to bid on a limited number of pollution permits. This is a key component of the state’s law to reduce carbon pollution to 1990 levels by 2020.

Following is a statement from Merrian Borgeson, Senior Scientist at Natural Resources Defense Council:

“Despite the oil industry’s fear mongering, the sky did not fall. California’s carbon market continues to hum along as expected, with this auction’s price right in line with previous auctions.”

“We are making progress toward a cleaner future. Our clean energy policies cut dangerous emissions, boost the state’s economy, and drive investment in our most disadvantaged communities.”

For more information on today's auction, see Merrian’s blog here: http://switchboard.nrdc.org/blogs/mborgeson/smooth_sailing_for_first_aucti.html
To view the full results of today's auction, click here: http://www.arb.ca.gov/cc/capandtrade/auction/auction.htm
To view past auction results, click here: http://www.arb.ca.gov/cc/capandtrade/auction/results_summary.pdf
To read Sierra Martinez's blog on California's new and improved electric grid, click here: http://switchboard.nrdc.org/blogs/smartinez/the_new_and_improved_electric_grid.html