Calif. Chamber Of Commerce Fights Cap-And-Trade Auction

Law360, New York (November 13, 2012, 10:09 PM EST) -- The California Chamber of Commerce on Tuesday sued to stop California's first cap-and-trade auction of greenhouse gas emissions, set to take place Wednesday, saying the state's cap-and-trade legislation had never authorized the state to be an active participant in the program.

In a suit filed in Sacramento County Superior Court, the chamber takes issue with the California Air Resource Board's planned auction, at which a percentage of the year's emissions allowances will be sold to the highest bidder. The proceeds of the auction will be used...
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