Funding California Rail With Cap-and-Trade Revenue Hits a Snag
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California’s cap-and-trade program is one of the boldest state-level climate change policies in the U.S. By capping statewide carbon pollution and then auctioning off emissions allowances, the state hopes to both reduce greenhouse gas emissions and generate about $10.6 billion for projects to improve energy efficiency. Among other things, that money would support various rail and transit projects, including the state’s high-speed rail line. The state […]