Although California’s cap-and-trade program was designed to combat climate change, a new analysis predicts it could also provide significant cash — as much as $8 billion in a decade’s time — for state and regional programs.
The report issued Tuesday by the independent Legislative Analyst’s Office projects a wide range of revenue generated by the sale of permits for companies to emit greenhouse gases beyond a state-ordered emissions cap. The most recent auction of those emission permits brought in more than $800 million.
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