January 24, 2011

California approves cap on greenhouse gasses

California regulators voted to approve the most comprehensive U.S. cap yet on greenhouse gases and create the biggest carbon market in the country. 

The California Air Resources Board voted 9-1 to approve the state's cap-and-trade plan, the keystone of its effort to reduce emissions to 1990 levels by 2020 under A.B. 32 and the nation's first economywide, market-based greenhouse gas scheme in the absence of federal action. California has the world's eighth-largest economy and the highest gross state product in the United States, at $1.7 trillion in 2009.

"It just shows to you that a huge majority of Californians are big believers in A.B. 32," Schwarzenegger said. "And they're big believers not just in global climate change -- let's be honest, not everyone believes in that. It's also about our health. It is about 19,000 people that die every year because of pollution-related illnesses. Every sixth child in the Central Valley goes to school with an inhaler. We can do much better than that."
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