Industrial companies and other businesses paid a combined $331.8 million for carbon credits in California’s latest cap-and-trade auction, state officials said Thursday.
Environmentalists said the results of the latest quarterly auction were positive in light of recent controversy surrounding the market.
Oil refiners, some legislators and others want the state to postpone the scheduled Jan. 1 expansion of the program to include emissions from motor vehicles for the first time, which is expected to inflate gasoline pump prices.
In the auction, which was held Monday, companies paid $11.50 a ton for carbon credits that can be used this year, according to the California Air Resources Board. All 22.5 million available credits sold out. Bidders paid $11.34 a ton for carbon credits to be used in 2017; about two-thirds of the 9.3 million available credits were purchased.
http://www.sacbee.com/2014/08/21/6645911/californias-latest-carbon-auction.html#mi_rss=Business