Draft California GHG Cap-And-Trade Rules Sidestep Allocation Controversy

California's air board has released its proposed draft regulation for a greenhouse gas (GHG) cap-and-trade program, but some controversial issues -- such as how many emission allowances will be auctioned or freely allocated to regulated entities, and how to spend revenues collected through auctions -- remain undecided. The draft rules do preserve a previous proposal that would establish an estimated 4 percent limit on the total use of offsets to comply through 2020, which industry organizations oppose as too restrictive...