CARB — Naked and alone in the Carbon Market

Russ Steele

The California Air Resources Board voted Monday the 22nd of August to proceed with it’s cap and trade program in California. The global carbon market has collapsed and they will be in the market alone in a naked attempt to extort $30-40 dollars a ton from California business that generate CO2.

When the Chicago Carbon Exchange closed carbon was selling for less than a nickel ton.  All the states originally recruited to be in the Western Climate Initiative and participate in carbon trading have with drawn, except for two Canadian Providences that may participate someday.

Compliance with the cap-and-trade program has been pushed back a year and is now set to begin in 2013.   By then we will be coming close to solar maximum for Solar Cycle 24, and maybe we will have some new faces in Sacramento who will have enough spine to reign in CARB.