Economists Say California May Need Credit Price Hike To Speed GHG Cuts

Economists are warning that California’s transportation and industrial sector greenhouse gas cuts are lagging behind trajectories for achieving the state’s 2030 emission target, elevating prospects that the state’s economy-wide cap-and-trade program will be under increasing pressure to make up the difference by raising carbon allowance prices. “Starting about now, we are assuming that cars are going to get a lot less carbon intensive at a very fast rate. And if they don’t, then that means that these [targets] . ...