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Cap and Trade Delayed

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(Sacramento, CA)
Thursday, June 30, 2011

California regulators said they would give power plants, refineries and other major polluters another year to comply with a new state program that provides financial incentives to emit fewer greenhouse gases.

Mary Nichols, chairwoman of the Air Resources Board, said Wednesday that the government is giving the state's major polluters until 2013 to comply with its cap-and-trade program.

"Cap and Trade" is the key piece of the California's 2006 climate law - called AB32 - and will cover 85 percent of the state's worst polluters.

The program works by requiring polluters, like refineries, to buy permits from the state that allow a specified amount of carbon dioxide to be sent into the air each year. Those permits can then be bought and sold by the polluters in a marketplace.

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