Bloomberg BNA – State actions on climate change are reducing emissions and offering templates for effective federal standards, according to Mary Nichols, chairwoman of the California Air Resources Board (ARB).
Chevron Corp. helped write the first-in-the-nation rule ordering reduced carbon emissions from cars and trucks. Its biofuels chief spoke at the ceremony where California Governor Arnold Schwarzenegger signed the executive order in 2007, the same year the oil company pledged to develop a gasoline replacement from wood.
California may consider issuing more free carbon permits to oil refiners after the first auction of allowances in November, Mary Nichols, the state air chief, said at a conference today in San Francisco.
California, which is seeking to build a regional carbon market for the U.S. West and parts of Canada, may start its cap-and-trade program next year even if other jurisdictions aren’t ready, a state official said.
California, the world’s ninth- largest economy, has Edison International to thank for selling all of its carbon permits in the state’s first auction. The company unintentionally bid for twice as many allowances as were for sale.
California will require automakers to sell millions of “zero-emission” vehicles -- battery- electric, plug-in hybrid and hydrogen-powered -- setting new standards followed by states from New York to Oregon.
California carbon is trading at a record low as legal threats, political opposition and rule changes plague the days leading up to the first auction of permits under the state’s greenhouse-gas program.