get ready for cap and trade, california

20
@BCE@ _MQ I DEA\J_Q,  MFWEA\Q \J _E\BWE]B_Q  ENL \HB BAJNJF]

Upload: bill-gram-reefer

Post on 05-Apr-2018

215 views

Category:

Documents


0 download

TRANSCRIPT

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 1/20

@BCE@ _MQI DEA\J_Q, MFWEA\Q \J

_E\BWE]B_Q ENL \HB BAJNJF]

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 2/20

Nbx| 57 mq e NjNwe|mqeN, NjNwjdm| jceNm{e|mjN |he| blrae|bq,

bNcecbq eNl bfwjsbq ae`mdjNmeNq |j mfwjtb |hb q|e|b”q dr|rb.

Nbx| 57 mq djarqbl jN mNNjte|mjN eNl |hb mN|bqba|mjN ob|sbbN

|hb bajNjf}, bNtmjNfbN|, eNl ure`m|} jd `mdb mqqrbq. sb wjtmlb

am|mae` le|e |j hb`w mNdjf |hb q|e|b”q bddj|q |j cjs |hb

bajNjf} eNl blrab cbbNhjrqb ceq bfmqqmjNq.

Rqnc |h E``jsEn TE`R drjf E`djrnE”q Erojn |rElnc 

q}q|f; `cE` rqi dE|jrq, fE|q |j rE|E}rq Enl |h jnjf}  

qrffem{bq djr bqbeah wewbq ajffmqqmjNbl o} Nbx| 57 djf

`belmNc eaelbfma bxwb|q |j wjtmlb eN jtbtmbs jd |hb rqb jd

e``jseNab te`rb abe|bl rNlb |hb q|e|b”q aew&eNl&|elb wjcef

eNl lmqarqq lmddbbN| jw|mjNq dj hjs |hb e``jseNab te`rb aeN

ob rqbl.

qwbame e  n n n n n , n n nn n n, nn n n n n,n n n n n i.

Ahrq OqahFrr AebrKenb He``Qbtb @btLetl Fa@ech`n_xenne Qfh

wjlrabl o} Nbx| 57

D. Nb` WbrrQereh HbnrFerae B. Wbrr

lbqmcNbl o} ahbN lbqmcN eqqjame|bq

eaINjs`blcbfbN|q

fEn} |hEniq eb lrb |j |hb dj``jsmNc bqbeahbq shjer|hjbl |hb q|rlmbq qrffe m{bl mN |hmq bwj|;

Le``eq Orre Qbnr Db`` _bqrabq r hb Drb

Qereh K Q{efob`en rfbr _bqbeahbr _bqrabq r hb Drb

Len Derobr Wrbqqr @e enl aher hb Bnbrc enl_bqrabq Crw e hb Rntbrq Ae`rne e Obrib`b

Lboreh @efob Qbnr W`a Eqqaeb e hb Abnbr n @e Bnbrc $ hbBntrnfbn (A@BB- e hb Rntbrq Ae`rne Obrib`b Qah` @e

Letl _`enl&H`q Wrbqqr Ecra`re` enl _bqrab Banfaq ehb Rntbrq Ae`rne e Obrib`b

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 3/20

Mn|jlra|mjn ?

Oeaicjrnl;EO1?”qAew&enl&\elbWjcef ?

E``jsenabqmn|hbAewenl\elbQ}q|bf <

\hbMfwea|qjQwbnlmncLj``eqjfE``jsenabQe`bq 2

_btbnrbCbnbe|blo}E``jsenabQe`bq|jR|m`m|mbq 3

ShjLbamlbqhjs|hbFjnb}sm``obRqbl: 57

@bce`@mfm|e|mjnqjE``jsenabQwbnlmnc 55

Ajq|qjAewenl\elb 5<

Hbe`|henlBntmjnfbn|e`Obnbd|qjEO1? 52

She|mqNbx|: 54

Bnlnj|bq mnqmlboeaiajtb

Ajn|bn|q

5R Q m N C | H B E @ @ js E N A B T E @ R B D _ j F A E @ m D j _ N m E ” Q A E _ O j N | _ E L m N C Q } Q | B F

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 4/20? R Q m N C | H B E @ @ js E N A B T E @ R B D _ j F A E @ m D j _ N m E ” Q A E _ O j N | _ E L m N C Q } Q | B F

mN|jlra|mjN

mn en br `f hb lefecb a`feb lqrwn a`l l

wo`a hbe`h hb bntrnfbn enl hb banf Ae`rne

bneabl EO 1? hb C`oe` serfnc Q`nq Ea ?774 .|hq `bcq`en qbq hb nen”q rq `bce`` onlnc ercb r

aronc a`feb&lqrwnc crbbnhqb ceq (CHC- bfqqnq.

m ae``q n hb qeb & hb r`l”q 5?h&`ercbq bfbr

crbbnhqb ceqbq & a CHC bfqqnq 5==7 `btb`q

o hb ber ?7?7 enl lrbaq hb Ae`rne Er _bqrabq

Oerl (E_O- nl eq fbb he ercb. |hb E_O”q

Qawnc W`en bqqbne`` hb o`bwrn r fw`bfbnnc EO

1? `nbq e qb bfqqn rblan fbeqrbq he

hbn fw`bfbnbl `` fbb EO 1?”q ce`q.

|hq rbwr qbbiq obbr nlbrqenl Ae`rne”q aew&

enl&relb wrcref enl lbrbn e`brnetbq r h hb

qeb aen qb hb e``enab te`b arbebl nlbr hb aew&

enl&relb wrcref. |hb nlncq n hq rbwr qffer{b e

qbrbq rbwrq affqqnbl o Nbx 57 he rbwrbqbn

hb rq bxbnqtb ene`qq n hb qqb e`brnetb qbq

e``aen te`b enl hb rbtbnb lbrtbl rf wbrf

eanq.

?75? bqbeah jN e``jae|mNc

e``jseNab te`rb

jwnq r Aew enl |relb Ean _btbnb E``aen; EnBanfa Eqqbqqfbn r Ae`rne o Letl _`enl&H`q

q hb rq fearbanfa ql bxefnb hb banfa

fwea qwbnlnc rbtbnbq cbnbrebl o hb qe`b aew

enl relb bfqqnq e``enabq. _`enl&Hq flb`q hb

Crqq Qeb Wrla (CQW- koq enl qeb rbtbnb fwea

58 lbrbn wqqo`b qwbnlnc wnq r aew enl relb

rbtbnbq ob lqrobl hb qeb”q Er W``n Anr`

Dnl.

Ae`rne”q Aew&enl&|relb Ean; Erb hb Ean

Wrabblq Dbbq |exbq r Qfbhnc B`qb: o Len Derobr

enl Lboreh @efob br e `bce` ene`qq lbrbn

qrebcbq r qwbnlnc rbtbnbq reqbl hrch hb qe`b

bfqqnq e``enabq n Ae`rne.

Dr hb Obnb Ae`rne B`bara _ebwebrq;

B`bara qbar wnq r hb qb e``enab te`b

arbebl nlbr Ae`rne”q aew&enl&relb wrcref e`q o

Le``eq Orre enl Qereh K Q{efob`en bxefnbq h

Ae`rne rebwebr ` o``q `` ob fweabl o hb

aew&enl&relb wrcref. E``enab te`b obnc rbrnbl

hb b`bara qbar q crbebr hen hb aq fwqbl

nlbwbnlbn` o hb aew&enl&relb wrcref. |hb ene`qq

bxefnbq hrbb lbrbn wrwqbl qrebcbq h he

te`b aen ob qbl obnb rebwebrq.

E Wrfbr n hb Rqb E``enab Te`b Arbebl nlbr hb

Aj? Aew&enl&|relb Wrcref o Le``eq Or re enl Qereh

K Q{efob`en bxefnbq h hb rbtbnbq cbnbrebl o

hb EO 1? aew&enl&relb wrcref fch ob qwbn. |hb

ehrq e`q bxw`en ib eqwbaq hb wrcref na`lnc

he e``enab te`b q h `` feib hb lbaqnq eo

hq o``n l``er w`q rbtbnb qrab hb fb`nb r fekr

lbaqnq enl h lbrbn Ae`rnenq fch ob fweabl.

|hb wrwqb hq Qffer enl hb bxwbr rbqberah

affqqnbl o Nbx 57 q hb`w blaeb Ae`rnenq

eo hb qeb”q aew&enl&relb wrcref enl hb `ib`

o``nq l``erq n rbtbnb `` cbnbreb tbr fb. mn r

brq qffer{b hq ol rbqberah b qb qbanq

hb Wrfbr o Orre enl Q{efob`en eq en rcen{nc

lafbn enl wrbqbn qfferbq hb fen nlncq rf

hb hbr hrbb qlbq.

oeaIcjrNl; eo 1? ”q aew&eNl&|elbwjcef

mn ?774 Ctbrnr Ern`l Qaher{bnbccbr qcnbl EO 1?

hb nen”q rq `bce`` onlnc w`a efbl e anc hbbfqqnq he anrob a`feb ahencb. |hb E_O”q

Qawnc W`en bqqbne`` e o`bwrn r fbbnc hb ce`q

EO 1? na`lbq e nfobr qrebcbq na`lnc e aew&enl&

relb wrcref e @ Aeron Db` Qenlerl hb Qqeneo`b

Affnbq enl A`feb Wrban Ea e hch qwbbl re`

wrkba `ninc Qen Drenaqa Enehbf Ae`rne”q F``n

Q`er _q wrcref e _brcbren Fenecbfbn Wrcref

e _bnbeo`b Wr` Qenlerl (_WQ- hb Ae`rne A`ben

Aer enl Eltenabl A`ben Aer Qenlerlq (Wet`b m enl mm- enl

hb |`b ?< O`lnc Bnbrc Babna Qenlerlq.5

j e`` hb Qawnc W`en fbeqrbq `qbl eotb hb fbeqrb

erceo` ereanc hb fq ebnn rf hb fble enl

qeb `belbrq q E_O”q ferib&oeqbl bfqqnq aew&enl&

relb wrcref qb eib bba n ?751.

Aew&enl&relb heq werq. |hb rq wer “ hb aew “

w`eabq en tbre`` `f n hb e` efn CHC bfqqnq

ea`bq atbrbl o hb wrcref aen rb`beqb n hb

efqwhbrb. mn Ae`rne”q wrcref wbr afwenbq

earbq enl hbr `ercb ea`bq rbc`ebl nlbr hb aew

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 5/201R Q m N C | H B E @ @ js E N A B T E @ R B D _ j F A E @ m D j _ N m E ” Q A E _ O j N | _ E L m N C Q } Q | B F

fq qrrbnlbr nb e``enab r beah fbra n aeron

lxlb bfqqnq.

|hb qbanl wer “ relb “ rbbrq e ferib r onc

enl qb``nc bfqqnq e``enabq. Rnlbr hb aew&enl&relbwrcref e w`en (r hbr bn- fch ahqb fbb q

o`cenq nlbr EO 1? bhbr o wraheqnc bfqqnq

e``enabq r o anc q bfqqnq hrch en bnbrc

babna wrcref r hbr qrebc. |hbrb q e`q e

qbanler ferib9 e a`ben&rnnnc w`en fch ahqb

qb`` q nnbblbl e``enabq (wbne`` e e wr- hbr

afwenbq. |hb eo` relb e``enabq e``q oqnbqqbq

lbalb r hbfqb`tbq hbhbr hb `l rehbr a

bfqqnq o enl qb`` e``enabq r fw`bfbn e w`en

he na`lbq oh qrebcbq. |hbqb ea`bq fe ahqb

hahbtbr wn feibq hb fq nenae` qbnqb r hbf.

Qenlerlq enl fbeqrbq e`rbel n w`eab erb bxwbabl

eahbtb tbr hrbb&uerbrq hb ce` a 87 f``n

fbra nq aeron lxlb bute`bn (FF|Aj?b- rf

Ae`rne”q banf o hb ber ?7?7. |hbqb fbeqrbq

qah eq hb fw`bfbnen e @&Aeron Db` Qenlerl

bnbrc babna enl anqbrten fbeqrbq enl hb qeb”q

11 wbrabn _bnbeo`b Wr` Qenlerl r b`bara

cbnbren erb bxwbabl b`l 4? FF|Aj?b n rblanq

(Qbb Dcrb E-.? Aew enl relb wrtlbq hb eqqrenab

he 58 FF|Aj?b n rhbr rblanq erb eahbtbl enl

he hb qeb ftbq hb rbq hb e erlq q ce`. 1

jnab lqrobl e``enabq rf hb qeb”q aew&enl&relb

wrcref `` atbr 82 wbrabn CHC bfqqnq earqq

Ae`rne.<

sh`b EO 1? rburbq rfq rblab CHC bfqqnq

q fwren rbfbfobr he Ae`rne rbqlbnq enl

oqnbqqbq o enl qb hb wrlaq rf hbqb rfq q

hbrb q e qherbl rbqwnqo` r h q rbqwnqo`b enl

h rblab bfqqnq n hb fq babn fennbr. |hq

rbwr q lblaebl wrtlnc nrfen arae` feinchbqb ahabq.

5 2 77 2 7 5 7 7& 2 7 1 7 7? 7 7 ? 2 7 1 2 7 < 7 7 < 2 7 2 7 7 2 2 7

5==7 BFMQQMJNQ \E_CB\

OER ?7?7 DJ_BAEQ\

_BLRA\MJNQ D_JF J\HB_

EO 1? FBEQR_BQ

?7?7 SM\H EO1?

FBEQR_BQ

_BLRA\MJNQ NBBLBL D_JF A$\

\_ENQWJ_\E\MJN

B@BA\_MA WJSB_

AJFFB_AME@ ENL _BQMLBN\ME@MNLRQ\_ME@

_BA]A@MNC ENL SEQ\B

HMCH CSW

EC_MAR@\R_B

DJ_BQ\_]

FM@@MJN FB\_MA \JNQ JD AJ? BURMTE@BN\

< ? 3

5 8

Qjrabq; E ``jsenab nfobrq enl bfmqqmjnq bq|mfe|bq erb oeqbl jn d mcrbq mn E_O”q D mne` _bc`e|mjn Jrlbr.

h||w;**sss.ero .ae .cjt*aa*mntbn|jr}*le|e*|eo `bq*rbla|mjnqZdrjfZqajwmncZw`enZfbeqrbqZ?757&57&?8.wld $ h||w;* *sss.ero .ae .cjt*aa*mntbn|jr}*le|e*djrbaeq|.h|f

dmcrb e; qjrabq jd chc bfmqqmjNq eNl bxwba|bl blra|mjNq mN ?7?7

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 6/20<

e``jseNabq mN |hb aew eNl |elb q}q|bf

O``nq l``erq erb bxwbabl ob cbnbrebl rf hb

qe`b e``aen enl relnc ‐bfqqn e``enabq‖ nlbr

aew enl relb. |hq fnb a`l ob qwbn n en nfobr eq. m a`l r bxefw`b ob qbl ;

5. E``bteb en wbne` eltbrqb fweaq EO 1? qah eq

narbeqbq n ceq`nb wrabq r b`bara rebq.

?. Dnl ctbrnfbn wrcrefq qah eq blaen

nreqrarb r hbe`h qbrtabq.

1. _brn fnb Ae`rne ef`bq hrch ltlbnlq

hb cbnbre` wo`a.

<. _blab arrbn exbq r wrbtbn rb ex narbeqbq.

mn q Dne` _bc`en jrlbr hb E_O `nbl hrbb cbnbre`

okbatbq;

5. _btbnbq cbnbrebl rf hb ean b`bara qbar

e``enabq qh`l ob rbrnbl rebwebrq.

?. Qfb e``enab te`b qh`l ob qbl wrba

bfqqnq&nbnqtb relb&bxwqbl nlqrbq hn

Ae`rne.

1. _btbnbq rf hb cbnbre` ean e``enabq `` ob

lbwqbl n en Er W``n Anr` Dnl enl qh`l

ob qbl eltenab hb okbatbq EO 1? hb C`oe`

serfnc Q`nq Ea.

Ean rbtbnbq ob lbwqbl n hb Er W``n

Anr` Dnl erb bqfebl rencb rf ,7.4 ,5.8 o``n

n ?75?‑?751 fq` rf hb ber` ean e``enabq

r ?752. |hb nl q bxwbabl cr qoqene`` n

?752 hbn qww`brq nere` ceq enl renqwren

b`q erb rburbl obcn wraheqb e``enabq atbr

hbr bfqqnq. mn ?752 hb nl q bxwbabl bern ,2.8

o``n n rbtbnbq eq qhn n o`b n Dcrb O h ,<.=

o``n cbnbrebl e hb cbnbre` ean enl ,7.= o``n e

hb ean r rb berq. sh o``nq l``erq qwbn

e ean enl lbwqbl n hb Er W``n Anr` Dnlbeah ber lbalnc h qb he fnb q ffbnqb

fwrenab Ae`rne”q banf olcb q oqnbqqbq

enl a{bnq.

E@@JSENAB W_MAB DJ_ BEAH ]BE_ MQ EOJTB BEAH OE_ ENL MN ?75? LJ@@E_Q

 

   O   M   @   @   M   J   N

   Q 

   J   D 

   L   J   @   @   E   _   Q 

   (   ?   7   5   ? 

   ,   -

? 7 5 ? ? 7 5 1 ? 7 5 <

, 5 8 . < 4

? 7 5 2

, ? 7 . = ?

? 7 5 4

, ? 1 . 2 <

? 7 5 8

, ? 8 . 3 5

? 7 ? 7

, 1 < . 7 =

? 7 5 =? 7 5 3

, ? 4 . 7 2

5 ?

5 <

5 7

8

<

4

?

7

TE@RB \J MJRQ $ WJRQ

D_BB E@ @JAE\MJN \J MNLRQ\_]

EM_ WJ@@R\MJN AJN\_J@ DRNL

EN\MAMWE\BL ELTENAB ERA\MJN _BTBNRBQ WJ Q\ ?7?7

, 5 2 . = 7

, 1 5 . 1 ?

, 5 2 . = 7

4 . 12 . 8 4 . 3 3 . 7 3 . < 3 . 3

5 . 55 . 7

7 . =

5 . 5

5 . 7

7 . 37 . 1

7 . 85 . ? 5 . 5

5 . ? 5 . ?

? . 55 . =5 . 35 . ?

? . 1 ? . 2 ? . 3 ? . 8

dmcrb o; e``jseNab btbNrbq eqqjame|bl sm|h rqbq |hjrch ?7?7

R Q m N C | H B E @ @ js E N A B T E @ R B D _ j F A E @ m D j _ N m E ” Q A E _ O j N | _ E L m N C Q } Q | B F

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 7/202

|hb mfwea|q jd qwbNlmNc lj``eq djfe``jseNab qe`bq

Qwbnlmnc Emr Wj``|mjn Ajn|rj` Dnl _btbnb

Ae`rne q n anqlbrnc e nfobr eq hb qeba`l qwbnl hb l``erq cbnbrebl rf hb qe`b bfqqn

e``enabq. |hb Qen Drenaqa @q Encb`bq*Enehbf

hch&qwbbl re` wrkba q nb qwbnlnc wn he heq obbn

hb aq fah fble ebnn. jhbr wqqo`b qwbnlnc

wnq erb e`q obnc lqaqqbl enl erb bqwbae`` rb`bten

r hb rb obcnnnc n ?752 hbn hb rbtbnb rf

hb ean q `ib` cr tb&`l. |hbqb wnq na`lb

ctnc hb fnb Ae`rne hqbh`lq n hb rf

e rboeb ahbai qwbnlnc hb l``erq n bnbrc babna

wrkbaq r qnc hb rbtbnb nl rbqlbne` rbnbeo`b

bnbrc nqe``enq. Beah hbqb qwbnlnc wnq `l

eba hb qeb”q bfqqn rblan ce`q q CQW qeb

rbtbnbq koq bu hb bntrnfbn enl hb hbe`h

Ae`rnenq.

|hb ``nc aher rf rbqberahbr Letl _`enl&H`q”q

jwnq r Aew enl |relb Ean _btbnb E``aen; En

Banfa Eqqbqqfbn r Ae`rne lbnbq 58 e`brnetb

qrebcbq r e``aenc ean rbtbnbq rf Ae`rne”q

aew&enl&relb wrcref. Rqnc hb Rntbrq Ae`rne e

Obrib`b”q OBE_ flb` _`enl&H`q flb`q he hb CQW

dmcrb a; feajbajNjfma mfwea|q (aheNcbq djf oeqb`mNb te`rbq mN ?7?7-

qabNemjbe` cqw (?757

fm``mjNq-

bfw`j}fbN|

(d|b-

q|e|b btbNrb

(f-

5 btbNrb boe|bq |j |e xwe}bq. <84 <,85< <4

?bNbc} bddmambNa} mfwjtbfbN|q jN q|e|b jsNbl orm`lmNcq, shmah ajr`l jddqb|cbNbe` drNl bxwbNlm|rbq.

81 <43 4

1jddqb| cbNbe` drNl bxwbNlm|rbq |hjrch abe|mtb dmNeNamNc ewwjeahbq. (btbNrbmq qwbN| jN NjN&bNtmjNfbN|e` mNtbq|fbN|q sm|h {bj cbbNhjrqb ceq blra|mjNq.-

?82 5,357 ?4

< bNbc } bdd mambNa} ea|mj Nq |j rwc elb bqml bN |me` ̀ mc h|mN c. ==3 4 ,=7? 28

2 bNbc} bddmambNa} ea|mjNq mNa`rlmNc eww`meNab bddmambNa} rwcelbq eNl bw`eabfbN|q. 8=4 3 ,1?8 =?

4 bNbc} bddmambNa} ea|mjNq |j rwcelb bqmlbN|me` orm`lmNc bddmambNa}. 832 8 ,325 24

3 dmNeNamNc wjcef dj bNbseo`b bNbc} mNq|e``e|mjNq e| bqmlbN|me` wjwb|mbq . 44< 4 ,342 23

8mNlrq|me` bNbc} bddmambNa}; b|jdm|q eNl ajfw`meNab mNtbq|fbN|q dj r|m`m|mbqeNl `ecb mNlrq|me` ea|mtm |mbq (bNbc}, abfbN|, b|a.-.

523 5,14< 5?

= ajffbame` bNbc} bddmambNa} eNl lmq|mor|bl cbNbe|mjN wjcefq. 5<1 5 , 577 57

57qfe`` orqmNbqq bNbc} bddmambNa} & dmNeName` eNl j|hb qrwwj|mNc qbtmabq|j jtbajfb |bahNj`jc} eljw|mjN eNl ajfw`meNab hrl`bq.

<48 4,<87 57

55wjcefq |he| wjtmlb dmN eNamNc dj, j lmba|`} drNl ajNqbte|mjN eNl bNbc}bddmambNa} rwcelbq mN `js&mNajfb eNl fmll`b&mNajfb lsb``mNcq.

818 4,4?7 57?

5?

dmNeNamNc wjcefq dj ajffbame`, mNlrq|me` eNl feNrdea|rmNc deam`m| mbq |jblrab cbbNhjrqb ceq bfmqqmjNq o} mNtbq |fbN| mN bNbc} bddmambNa}, bNbc} q|jecb,eNl a`beN eNl bNbseo`b bNbc} wjkba|q.

5<? 5,54? 55

51 eaab` b e|bl l bw`j }fbN | j d elteNabl |bahN j` jc} tbhma`bq. 3 1= < ,5 23 < 5

5<`js&aeojN cjjlq fjtbfbN|, dbmch| tbhma`b |bahNj`jcmbq, wro`ma |eNqw j|e|mjN,eNl mNdeq|ra|rb lbtb`jwfbN|.

52< 5,524 5?

52 ojjIbNlq jd |hb hmch qwbbl em` wjkba| (Nj| |hb dr`` wjkba|-. <<? ?,425 15

54mfwjtb se|b qrww`} |hjrch fjb bddmambN| q|jecb, ajNtb}eNab, eNl feNecbfbN|mNdeq|ra|rb.

585 5,=4? 55

53dmNeName` eqqmq|eNab dj `jae` cjtbNfbN|q |j blrab tf| mN bddj|q |j fbb| |hbcje`q jd qo 132.

172 ?,<=4 58

58 c bbN oeN I ( `j eN qrwwj | d j bNbc } bdd mambNa} eNl bN bseo`bq- . 8 51 2 ,4?8 3<

Qjrab; E|hjr bq|mfe|bq.Nj|bq; CLW enl q|e|b olcb| mfwea|q mn ajnq|en| (?75?- fm`` mjnq jd lj``erq . Bfw`j}fbn| mn D\B hbelajn|. _bq`|q erb djr e ,577 fm`` mjn mn m| me ` rbtbnb e ``jae|mjn enl sj`l nj| cbnbre ``} qae`b w `mnber`} |j o m` ` mjnq jd lj``erq .

R Q m N C | H B E @ @ js E N A B T E @ R B D _ j F A E @ m D j _ N m E ” Q A E _ O j N | _ E L m N C Q } Q | B F

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 8/204

bfw`fbn enl qeb rbtbnb fwea `` ob hb qeb

brb qwbnl ,577 f``n n ean&cbnbrebl nlq wbr

ber tbr hb wbrl ?751&?7?7 n en hbqb 58 lbrbn

wrkbaq.

mn hb rbwr _`enl&H`q lqaqqbq hb rbq`q hb

banfa ene`qq. Hb nbq he hb qwbnlnc wnq

he qb olcber bxwbnqbq rbq` n `bqq banfa

crh afweretb` obaeqb hb rcne` qae` qf`q

bba q eoqbn n hbqb aeqbq . |hbqb qwbnlnc wnq q``

anrob crh obaeqb hb rbwrbqbn bxwbnlrb

qhnc rf hqb h we r bfqqn wbrfq hb

ctbrnfbn r hb etbrecb exwebr. |hb flb`bl qwbnlnc

wnq he qoql{b babna wrcrefq enl rbnbeo`bq

r hqbh`lq cbnbreb frb CLW enl bfw`fbn crh

lrba` enl nlrba` hen lnc q n hb wo`a r wrtebbnbrwrqb qbarq. |hq q obaeqb hqbh`l babna

fbeqrbq erb frb lqrobl enl hbrbrb frb ko

nbnqtb enl hbn hqbh`lq qetb fnb n bnbrc hbr

qwbnlnc n e`brnetb clq enl qbrtabq q eo 54 fbq

frb ko nbnqtb hen hb bnbrc b` qww` ahen. Dne``

hb rbwr nbq he obaeqb e`` hb e`brnetbq wrfb

banfa crh hb `` e `` reqb nb `nc&brf rbtbnb

r hb qeb.

| feib hb e`brnetb qrebcbq flb`bl afwereo`b

hq ene`qq eqqbqqbq hb fwea qwbnlnc e`` e ``enab

l``erq n n` nb wrkba. mn rbe` hb qeb fe qwbnl

rbtbnbq cbnbrebl o hb EO 1? aew&enl&relb wrcref

n e afonen qbtbre` qwbnlnc wnq. m q fwren

e`q nb he hb rbq`q erb n qae`eo`b eq hbrb fe

ob lfnqhnc rbrnq h ellne` rbtbnbq qwbn. |hq

eqqbqqfbn beah w`a wn enl q nltle` fweaq

wrtlbq nqch e`ob `fbl n h beah qwbnlnc ahab

fch fwea Ae`rne”q banf. Drf e fearbanfa

wbrqwbatb hb fq fwren anqlbrenq r

w`afeibrq rbtbnc rbtbnb e``aen e`brnetbq eq

b`` eq oqbrtbrq earqq hb qeb erb;

5. H `` hb rbtbnbq ob qbl:?. sh `` obnb lrba` rf hb rbtbnbq:

1. she `` ob hb `feb obnbq r hb qeb banf eq

e h`b na`lnc bfw`fbn CQW enl ellne` qeb

rbtbnbq:

E`` hbqb qenlerlq erb fwren arbre r bbatb enl

rbqwnqo`b qb en nb qeb rbtbnb qrab.

mn eqqbqqnc hb fwea hbqb qwbnlnc wnq _`enl&

H`q ana`lbq he;

5. Ae`rne heq e lb erre wnq r rbaa`nc

rbtbnbq rf eanq r CHC bfqqn wbrfq beah

hah aen anrob `nc&brf banfa crh enl

 ko arbe n.

?. Fen hb e``aen wnq anqlbrbl rbrn frb

banfa crh hen hbr aq enl n hb wrabqq

narbeqb qeb rbtbnb o nb obnbq lbr qcnaen`.

1. |hb fq wr&crh wnq ntbq ean rbtbnb n

bxwenlbl hqbh`l&`btb` bnbrc babna enl rbnbeo`b

bahn`c lqn enl hbqb cbnbreb ellne` nb

qeb rbtbnb.

<. E``aenq he fbrb` qb bxqnc qae` afffbnq

h`b q`` qbrnc qfb crh l n b`l obnbq

afwereo`b affnc nb rbtbnbq babna

fbeqrbq.2 

2. Nb bfw`fbn obnbq cbnbre`` narbeqb h CLW o

ter lbwbnlnc n hb lbfenl webrnq ebabl o hb

w`a. Ecen hqbh`l babna wrfn q hb fq

bfw`fbn&nbnqtb e``aen qrebc.

R Q m N C | H B E @ @ js E N A B T E @ R B D _ j F A E @ m D j _ N m E ” Q A E _ O j N | _ E L m N C Q } Q | B F

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 9/203

btbNrb cbNb e|bl o} e``jseNabqe`bq |j r|m`m|mbq

Obaeqb EO 1? wq e wrab n aeron eatbq rb`ebl

bfnc aeron `ib b`bara cbnbren obafbfrb bxwbnqtb. mn Dr hb Obnb Ae`rne B`bara

_ebwebrq; B`bara qbar wnq r hb qb

Dr hch`chq bfbrcb rf hq rbqberah;

5. E``enab te`b lrbabl oeai rebwebrq a`l qb

e`` hb aqq nrlabl o aew enl relb r b`bara

anqfbrq.

?. H hb e ``enab te`b q lrbabl rebwebrq ``

eba hb lqron aqq efnc aqfbrq enl

a`l eba hb babna hb aew&enl&relb wrcref.

1. m e``enab te`b q rbrnbl n b`bara o``q anqfbrq

`` wbrabtb he b`bara q rb`etb` `bqq bxwbnqtb. m

q rbrnbl n e qbwereb bntb`wb anqfbrq `` wbrabtb

hchbr b`bara o``q o hqbh`l olcbq `l

ob afwbnqebl. |hq lbaqn `` eba hb w`ae`

wbrabwn hb wrcref.

<. _eb narbeqbq rbq`nc rf hbr EO 1? w`abq qah eq

hb _bnbeo`b Wr` Qenlerl fe ob qoqene` enl

`` aar nlbwbnlbn` aew enl relb.

m q fwren nb hb Ae`rne Er _bqrabq Oerl

heq e``aebl e `beq bnch e``enab te`b `bq

e``enab te`b arbebl nlbr Ae`rne”q aew&enl&

relb wrcref rbqberahbrq Le``eq Orre enl Qereh K

Q{efob`en flb` rb aq narbeqbq r rbqlbne`

anqfbrq. |hb ob` aher rbdbaq hb etbrecb fnh`

bxwbabl narbeqbq obrb eaannc r l``erq cbnbrebl

o hb aew&enl&relb wrcref he nlbr hb `e fq ob

qbl r hb obnb rebwebrq.

atbr hbr aqfbr”q e` wrkbabl aq orlbn. mn q

ne` rbc`en rlbr hb Oerl lrbabl he hb te`b

e``enabq e``aebl `bq fq ob qbl r hb obnb

rebwebrq anqqbn h hb ce`q EO 1?. Kq h

he rbtbnb `` obnb rebwebrq q q`` w r lboeb.

Rnlbr hb aew&enl&relb wrcref b`bara `bq na`lnc

oh ntbqr&nbl enl wo`a` nbl `bq `` rbabtb

e rbb e``aen e``enabq e`nc =3.3 FF|Aj?b n

?751 lba`nnc 8<.= FF|Aj?b n ?7?7.4 mn hb qbanl

(?752&?753- enl hrl (?753&?7?7- wheqbq hb aew&enl&relb wrcref hbn renqwren enl nere` ceq erb

na`lbl b`bara”q qherb hb e` te`b e``enabq

`` e`` ?? wbrabn hb e` te`b e``enabq.

mntbqr&nbl `bq (mjR- `` ob rburbl qb`` hbr

e``enabq e uerbr` aew&enl&relb eanq hb rq

hah q bxwbabl n Ntbfobr ?75?. | fbb hbr n

afw`enab o`cen mjRq `` hbn nbbl wraheqb

e``enabq n hb ean r n hb qbanler ferib. |hb

wrtqn rburnc mjRq qb`` hbr e``aen n en ean

qrffb smN|b

etbecb fjN|h`}

rqb (Ish-

etbecb om`` (*

fjN|h-

bq|mfe|bl cjqq

ajq| jd a$| (*

fjN|h-

etbecb fjN|h`}

rqb (Ish-

etbecb om`` (*

fjN|h-

bq|mfe|bl cjqq

ajq| jd a$| (*

fjN|h-

Oeqma qbrtmab

wc$b <52 |j 57?< 33 |j 58= ?.?< |j 2.2? 27< |j 321 =1 |j 51= ?.35 |j <.74

qab 27< |j ?<?= <4 |j ??5 ?.?8 |j 57.=8 <=8 |j 47= <2 |j 22 ?.?2 |j ?.32

qlc$b 215 |j =78 =4 |j 542 ?.<1 |j <.52 22= |j 34< == |j 512 ?.24 |j 1.<=

e``&b`ba|rma

wc$b 27< |j 5175 =1 |j ?<7 ?.35 |j 3.75 383 |j 5283 5?2 |j ?25 ?.15 |j <.42

qab 221 |j ?141 27 |j ?52 ?.27 |j 57.48 32= |j 5214 22 |j 55? 5.84 |j 1.38

qlc$b 2<? |j 573= == |j 5=4 ?.<8 |j <.=< 333 |j 5112 5?4 |j ?53 5.=1 |j 1.1?

dmcrb l; |hb cjqq ajq| jd aew&eNl&|elb dj bqmlbN|me` arq|jfbq obdjb eaajrN|mNc dj e``jseNab te`rb

R Q m N C | H B E @ @ js E N A B T E @ R B D _ j F A E @ m D j _ N m E ” Q A E _ O j N | _ E L m N C Q } Q | B F

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 10/20

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 11/20=

Orre enl Q{efob`en flb` hb banfa fweaq

n rebwebrq beah hb eotb hrbb qrebcbq.

|hb ``nc eo`b qffer{bq hb banfa obnb

rebwebrq eq b`` eq hb nb ahencb n aqfbr aqq

hbn e``enab te`b q rbrnbl rebwebrq. |hb

ehrq ana`lb he hbn e``enab te`b q eibn n

Oeqbl n hq flb`nc hb rbqberah ana`lbq he

e``enab te`b arbebl o hb qe`b mjR e``enabq aen

qb e`` r nber` e`` narbeqbl aqq rebwebrq. Hbtbr

nq`enc rebwebrq rf en narbeqb n b`bara o``q

fch wrbtbn hb eahbtbfbn Ae`rne”q a`feb ahencb

ce`q n hb `nc rn obaeqb `l feqi hb eae` aq

hbr b`bara anqfwn. jn hb hbr henl e``nc

anqlbren rebwebrq erb hb`l herf`bqq nlbr hb EO

1? aew enl relb qqbf nlbr hb mjR enl hb L_E w`enq

enl aqq erb q`ch` hchbr nlbr hb Kn Bntrnfbne`

Werbq w`en (obrb eaannc r hb obnbq

ntbqfbnq nlbr he w`en-;

o``q rqb enl rbrnnc hb e``enab te`b hrch e

lrba wefbn `l reqb hb tqo` hb aew&enl&relb

wrcref h w`a enl w`ae` anqbubnabq. Deanc

hbqb relb&q q en fwren qqb he qh`l ob

anabrn e`` Ae`rnenq enl `` ob a`qb` oqbrtbl o

w`ae` `belbrq earqq hb c`ob.

qrffb

r|m`m|}

ablm| (obNbdm| djf era|mjN btbNrbq- wb arq|jfb(*fjN|h-

Nb| aheNcb mN arq|jfb ajq|q ed|b ablm|("-

Oeqma qbrtmab

wc$b ?.?2 |j 2.24 ?.71 |j 2.77 5.5= |j ?.=< 7.7" 7.1" 5.<"

qab ?.15 |j 55.51 ?.78 |j 57.75 5.?? |j 2.88 &7.5" 7.<" ?.1"

qlc$b ?.<5 |j <.55 ?.53 |j 1.37 5.?3 |j ?.53 7.7" 7.1" 5.?"

e``&b`ba|rma

wc$b ?.1? |j <.4= ?.7= |j <.?? 5.?1 |j ?.<8 7.7" 7.?" 7.="

qab ?.21 |j 57.8? ?.?8 |j =.3< 5.1< |j 2.3? &7.5" 7.<" ?.1"

qlc$b ?.<4 |j <.8= ?.?5 |j <.<7 5.17 |j ?.28 7.7" 7.1" 5.?"

smN|b

Oeqma qbrtmab

wc$b ?.31 |j <.7= ?.<4 |j 1.48 5.<< |j ?.54 7.7" 7.1" 5.<"

qab ?.?8 |j ?.3= ?.72 |j ?.25 5.?7 |j 5.<3 &7.5" 7.<" ?.1"

qlc$b ?.21 |j 1.<4 ?.?8 |j 1.5? 5.1< |j 5.81 7.7" 7.1" 5.?"

e``&b`ba|rma

wc$b ?.1? |j <.4= ?.7= |j <.?? 5.?1 |j ?.<8 7.7" 7.?" 7.="

qab 5.8= |j 1.81 5.37 |j 1.<< 5.77 |j ?.7? 7.7" 7.1" 5.4"

qlc$b 5.=? |j 1.?= 5.3? |j ?.=4 5.75 |j 5.3< 7.7" 7.?" 7.3"

dmcrb b; Nb| ajq| jd aew eNl |elb dj etbecb bqmlbN|me` arq|jfbq eajqq |b m|jmbqed|b eaajrN|mNc dj e` `jseNab te`rb

R Q m N C | H B E @ @ js E N A B T E @ R B D _ j F A E @ m D j _ N m E ” Q A E _ O j N | _ E L m N C Q } Q | B F

MJRq

 

MJRq

 

L_ E

 

L_ E

 

KB W

 

KB W

 

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 12/2057

@eq| le} djr om``q|j ob weqqbl j| jd|hb hjqb jd jrmcmn

@eq| le} djr Dmqae` Ajff.

|j rbwjr| |j D`jjr 

FE] 5? KRN 5? KR@ 5? ERC 5? QBW 5?

Olcb| Om`` fq| obweqqbl e| Fmlnmch|

Obcmnnmnc jdD] ?75?&51

@eq| le} djr beah hjqb|j weqq om``q

AWR Lbamqmjn jn _btbnbq

dmcrb d; em wj``r|mjN ajN|j` drNl eNl b`ba|ma r|m`m|} btbNrb lbamqmjN |mfb`mNb

shj lbamlbq hjs |hb fjNb} sm`` ob rqbl :

|hb crb ob` wrtlbq e fb`nb rbtbnb lbaqnq

rb`ebl e``enab te`b he erb q`` nlbre. Lbaqnq

rbcerlnc e``enab rbtbnb lrbabl b`baraanqfbrq ntbqr nbl `bq (mjRq- `` ob eibn

o hb Wo`a R`bq Affqqn n Knb enl eibn o hb

ctbrnnc oerlq hb wo`a` nbl `bq n hb nber

rb. |hb `ercb rbfennc lbaqn anabrnq e``enab

rbtbnb he `` eaarb n hb Er W``n Anr` Dnl. |hq

lbaqn `` eib bba n hb nbx qae` ber.

Emr Wj``|mjn Ajn|rj` Dnl _btbnbq

mn hb `bcq`erb QO 523? (Wet`b- enl EO 521? (Wbrb{-

br arbre enl `bcq`etb tbrqch wrtqnq he `l

fenleb h hb ctbrnr enl qeb ecbnabq a`lewwrwreb rbtbnbq n hb Er W``n Anr` Dnl. |hbqb

o``q erb arrbn` rinc hbr e hrch bntrnfbne`

enl qae` affbbq n hb Qbneb enl Eqqbfo`. m hb

c e `` tb hb `bcq`erb beah fq ob weqqbl o e

qfw`b fekr tb o Ecq 15 ?75?. (mfwren lebq n

hq wrabqq erb lbe`bl n Dcrb D.-

Oh o``q `l arbeb e Crbbnhqb Ceq _blan

Eaan hn hb Er W``n Anr` Dnl enl `l

cren hb `bcq`erb hb wbr lbalb h hb rbtbnb

aen ob qwbn eq b`` eq hb wbr ewwrwreb hb fnb.

O hb qeb olcb fq ob ewwrtbl fah qnbr “ o

Knb 52. |hb re`br o`` eeahbl hb olcb `l e`q

arbeb e Crbbnhqb Ceq _blan Eaan hn hb Er

W``n Anr` Dnl `l cren hb bxbatb orenah

ewwrwren wbr enl `l rburb he hb ̀ bcq`erb

hetb e fnff 17 leq rbtb en qwbnlnc w`enq.

Nb he n` hb olcb heq obbn bneabl hb `bcq`erb

aenn qbnl hb ctbrnr en o`` ewwrwrenc nlq r hb

qefb qae` ber.3 

Obrb Qbwbfobr 5? hb ctbrnr enl hb `bcq`erb ``

hetb ecrbb n h fnb rf hb nl `` ob lbwqbl

anr``bl enl qwbn. E_O enl hbr qeb ecbnabq ``

`ib` aerr bxwbnlrb w`enq he e`` hn hbr krqlan.

|hb lbaqn rbcerlnc hb wbnlnc olcb q fwren

bqwbae`` obaeqb `` hetb fw`aenq r h hb nl

q fenecbl n hb `nc rn. |hb rbe` qqb hbtbr q h

e``enab rbtbnbq `` ob qbl n ?752 enl obnl. Enne`

rbtbnbq afnc n hb nl erb bxwbabl cr rf

,2.8 ,3.3 o``n rf ?752 ?7?7 (qnc ?75? l``erq-.

R Q m N C | H B E @ @ js E N A B T E @ R B D _ j F A E @ m D j _ N m E ” Q A E _ O j N | _ E L m N C Q } Q | B F

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 13/2055

J|hbr E``jsenab _btbnb

|hb E_O heq e`rbel ewwrtbl r`bq r qnc rbtbnbq

wrba bnbrc&nbnqtb nlqrbq he erb qokba &&

qeb afwbn. |hb E_O lbnbl hbqb nlqrbq enlbqeo`qhbl r`bq r e``aenc rbb bfqqn e``enabq n

q mne` Qebfbn _beqnq rb`beqbl n jaobr ?757.

|hb E_O hb`l wo`a affbn wbrlq enl riqhwq

q`a nw rf nlqrbq earqq hb qeb enl e ne` r`b

eq ewwrtbl n Lbabfobr ?755.

`bce` `mfm|e|mjNq dj e``jseNab

qwbNlmNc

|hbrb erb `bce` enl wreaae` `fenq he fq ob

anqlbrbl hbn lbalnc h wrabblq cbnbrebl rf

hb qe`b bfqqn e``enabq aen ob qbl n Ae`rne.

mn Ae`rne”q Aew&enl&|relb Ean; Erb hb Ean

Wrabblq Dbbq |exbq r Qfbhnc B`qb: ehrq Len

Derobr enl Lboreh @efob anqlbr hb lbrbn `bce`

refbriq nlbr hah Ae`rne arq fe a`eqq hb

wrabblq eq e rbc`er bb qfb hbr bb en n`e` ex

r qfbhnc b`qb. |hq `bce` a`eqqaen q en fwren

nb obaeqb hb lbrbn a`eqqaenq fwea h l``erq

reqbl hrch hb aew enl relb wrcref fe ob qwbn . |hb

ql e`q wrtlbq e `bce` rqi ene`qq hb 58 e`brnetbq

r e``aenc ean rbtbnbq he brb rbtbbl wrbtq`

n hb _`enl&H`q ene`qq.

Erb |hb Ea|mjn Wrjabblq \exbq, Dbbq, jr

Qjfb|hmnc B`qb:

Wrwqn 51 ewwrtbl o hb tbrq n 5=38 efbnlbl

hb Ae`rne Anqn rburb he ex narbeqbq ob

ewwrtbl o e &hrlq fekr beah hb hqbq

hb @bcq`erb. EO 1? eq ewwrtbl o e qfw`b fekr.

|hbrbrb e ib `bce` qqb r hb aew&enl&relb wrcref

q hbhbr hb ean wrabblq aen `bce`` ob a`eqqbl eq

‐bbq‖ ‐``bce` exbq‖ r qfbhnc b`qb. |hb `e n hq erbe

q nbqbl (en ean e``enab lbq n e`` nlbr hb

`bce` lbnn e wae` bb qahbfb- q he hb arq

`` l q nabren.

Wrwqn ?4 weqqbl o hb tbrq n ?757 flbq

Wrwqn 51 bxwenl h e ‐ex‖ q lbnbl nlbr

Ae`rne `e. Wrw. ?4 fenlebq he qeb `eq he rbq`

n en exwebr wenc e hchbr ex fq ob ewwrtbl o

&hrlq tb beah hqb hb @bcq`erb. Derobr enl

@efob rbtbbl hb bx hb rcne` wrwqn enl hbr

ene`qq ana`lbq he hbrb q qfb efoc eo hb

eww`aen Wrwqn ?4 EO 1?.

mn hbr rbwr hb ehrq wrbqbn hrbb ercfbnq he

`nb h hb ob`btb ean wrabblq rf hb qeb”qaew enl relb wrcref aenn ob a`eqqbl eq e ‐ex‖ nlbr

Wrwqn 51;

  \hbea|mjnwrjabblq,mdqwbn|djrelew|e|mjnjrfm|mce|mjn

fbeqrbq anqqbn h hb rbcfb bqeo`qhbl o

hb Ae`rne Qwrbfb Ar n Qna`er Wen8 fe ob

anqlbrbl e rbc`er bb rehbr hen e ex .

  \hbajfw`menabmnq|rfbn|qshmahe``jsrbc`e|blbn|m|mbq

bf crbbnhqb ceqqbq anqb e ctbrnfbne`

wrt`bcb enl hq erb bute`bn e lbtb`wfbn bb

rehbr hen e ex.  \hbwrmfer}wrwjqbjdAE_O,EO1?,enl|hbaew&enl&

relb wrcref q n qae` q Wrwqn 51 lbq n

eww`.

Arq anqlbrnc hb ubqn h a`eqq

e``enab te`b `` anq` hb `belnc aeqb n hb qokba

rbc`er bbq& Qna`er Wen. |hb Q na`er Wen aeqb

anabrnbl hb Ah`lhl @bel Wqnnc Wrbtbnn Ea

hah wrtlbl bte`en qarbbnnc enl fblae` ``&w

qbrtabq ah`lrbn e rqi `bel wqnnc. |hb wrcref

eq bnrb` qwwrbl o bbq n bnbq he anrobl

bntrnfbne` `bel wqnnc. |hb ar nl hb wrcref

anqb e ‐rbc`er bb‖ enl n e ex obaeqb

(5- hbrb eq e aeqe` annban obbbn hb wrla

rbc`ebl enl q eltbrqb bbaq (?- hb fnb reqbl eq

`fbl hb rbeqneo`b aq fcenc hb eltbrqb

bbaq enl (1- hbrb eq e rbeqneo`b rb`enqhw obbbn

hb e``aen aqq efnc webrq enl hb orlbnq

fwqbl o hb webr.

mn rlbr wrbtbn qaabqq` `bce` ahe``bncbq EO 1?

hb ehrq ob`btb hb fq anqbrtetb `bce` ewwreah

qwbnlnc l``erq cbnbrebl o hb aew&enl&relb wrcref`l ob qb hb ean wrabblq n e e he q

anqqbn h hb `bce` wrbablbn qbn o hb Qna`er Wen

aeqb.

|hb ehrq rhbr ana`lb he Wrwqn ?4 hah

fwqbq ellne` `fq n exen n Ae`rne `` n

eww` hb EO 1? rbtbnbq. EO 1? eq elwbl obrb hb

bbatb leb Wrwqn ?4 hah q hq n`ib` ob

nl eww`.

R Q m N C | H B E @ @ js E N A B T E @ R B D _ j F A E @ m D j _ N m E ” Q A E _ O j N | _ E L m N C Q } Q | B F

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 14/205?

m fe qbbf he h hb wrabblq rf hb aew&enl&relbwrcref a`l ob a`eqqbl o hb arq fch ob e fnr

r eaelbfa wn. Hbtbr kq h hbqb wrabblq erb

a`eqqbl a`l eae`` lbbrfnb hbhbr r n Ae`rne

a`l wrabbl h fw`bfbnnc hb wrcref h

rhbr ean o hb `bcq`erb.

mn elln hb rbqberah o Deobr enl @efob oh

RA@E enl hb Ae`rne”q nnwerqen @bcq`etb Ene`q

jab (@Ej- rbabn` ene`{bl h Wrwq 51 enl ?4 a`l

wbne`` eww` hb EO 1? aew enl relb wrcref.

Oh RA@E enl hb @Ej ana`lbl he nlbr hb `e hb

ean wrabblq cbnbrebl o hb aew enl relb wrcref`l ob anqlbrbl e ‐rbc`er bb‖ (enl e ‐ex‖- o hb

arq. Oh e`q ana`lbl he nlbr hb `e hb wrabblq

`l `ib` nbbl ob qwbn n wrcrefq he rblabr fceb crbbnhqb ceq bfqqnq. mn hb ``nc

|eo`b hb ehrq wrbqbn hbr `bce` rqi eqqbqqfbn

hb 58 rbtbnb e``aen e`brnetbq e`nc qlb hb

fearbanfa fweaq wrbqbnbl ber`br n hq rbwr o

Wrbqqr Letl _`enl&H`q.

ajq|q jd aew eNl |elb

Obaeqb EO 1? enl q aew&enl&relb wrcref w`eabq e aq

n bfnc aeron arbebq crbebr te`b n obnc babn

enl cbnbrebq nb rbtbnb r hb qeb Ae`rnenq

`` bxwbrbnab qfb qhq n hb tbre`` banf enl

wbne`` hbr le&&le `tbq. Wnc e wrab n aeron

n Ae`rne `` fwea b`bara rebq nere` ceq rebq

enl renqwren b`q. Hbtbr Ae`rnenq e`q qenl

obnb rf hb qb e``enab rbtbnbq hbhbr

Wrjw 51; Drf enl ebr hb bbatb

leb hq era`b en ahencbq n

Qeb exbq bneabl r hb wrwqb

narbeqnc rbtbnbq a``babl wrqen

hbrb hbhbr o narbeqbl rebq r

ahencbq n fbhlq afwen

fq ob fwqbl o en Ea weqqbl o

n `bqq hen &hrlq e`` fbfobrq

b`babl beah hb hqbq

hb @bcq`erb bxabw he n nb el

te`rbf exbq n rbe` wrwbr r qe`bq

r renqean exbq n hb qe`bq rbe`

wrwbr fe ob fwqbl. Ae`. Anq.

Ea. XmmmE £1

Wrjw ?4; Drf enl ebr hb bbatb

leb hq era`b en ahencbq n

qeb exbq bneabl r hb wrwqb

narbeqnc rbtbnbq a``babl wrqen

hbrb En} ahencb mn q|e|b q|e||b

shmah rbq`|q mn en} |exwe}br we}mnc

e hmchbr |ex hbhbr o narbeqbl rebq

r ahencbq n fbhlq afwen

fq ob fwqbl o en Ea ea| weqqbl o

n `bqq hen &hrlq e`` fbfobrq

b`babl beah hb hqbq

hb @bcq`erb bxabw he n nb el

te`rbf exbq n rbe` wrwbr r qe`bq

r renqean exbq n hb qe`bq rbe`

wrwbr fe ob fwqbl.

Qmna`emr Wemn| _bcmfb; Qna`er

Wen q hb `belnc aeqb n hb qokba

rbc`er bbq hbrb hb ar

lbbfbl hb rbc`er bb ob n

e ex obaeqb (5- hbrb eq e aeqe`

annban obbbn hb wrla

rbc`ebl enl q eltbrqb bbaq

(?- hb fnb reqbl eq `fbl

hb rbeqneo`b aq fcenc hb

eltbrqb bbaq enl (1- hbrb eq e

rbeqneo`b rb`enqhw obbbn hb

e``aen aqq efnc werq enl

hb orlbnq fwqbl o hb webr.

R Q m N C | H B E @ @ js E N A B T E @ R B D _ j F A E @ m D j _ N m E ” Q A E _ O j N | _ E L m N C Q } Q | B F

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 15/2051

dmcrb c; `bce` mqI eNl feajbajNjfma mfwea|q (feajbajNjfma aheNcbq djf oeqb`mNb te`rbq mN ?7?7-

qabNemjbe` cqw (?757

fm``mjNq-

bfw`j}fbN|

(d|b-

q|e|b btbNrb

(f-`bce` mqI

5 btbNrb boe|bq |j |exwe}bq. <84 <,85< <4 hmch

?bNbc} bddmambNa} mfwjtbfbN|q jN q|e|b jsNbl orm`lmNcq shmah ajr`ljddqb| cbNbe` drNl bxwbNlm|rbq.

81 <43 4`js |jfblmrf

1

jddqb| cbNbe` drNl bxwbNlm|rbq |hjrch abe|mtb dmNeNamNcewwjeahbq. (btbNrb mq qwbN| jN NjN&bNtmjNfbN|e` mNtbq|fbN|q sm|h{bj cbbNhjrqb ceq blra|mjNq.-

?82 5,357 ?4 hmch

<bNbc} bddmambNa} ea|mjNq |j rwcelb bqmlbN|me` ̀ mch|mNc. ==3 4,=7? 28 `js

2bNbc} bddmambNa} ea|mjNq mNa`rlmNc eww`meNab bddmambNa} rwcelbq eNlbw`eabfbN|q.

8=4 3,1?8 =? `js

4 bNbc} bddmambNa} ea|mjNq |j rwcelb bqmlbN| me` orm`lmNc bddmambNa}. 832 8,325 24 `js

3dmNeNamNc wjcef dj bNbseo`b bNbc} mNq|e``e|mjNq e| bqmlbN|me`wjwb|mbq.

44< 4,342 23 `js

8mNlrq|me` bNbc} bddmambNa}; b|jdm|q eNl ajfw`meNab mNtbq|fbN|q djr|m`m| mbq eNl `ecb mNlrq|me` ea|mtm| mbq (bNbc}, abfbN|, b|a.-

523 5,14< 5? `js

= ajffbame` bNbc} bddmambNa} eNl lmq|mor|bl cbNbe|mjN wjcefq. 5<1 5,577 57 `js

57qfe`` orqmNbqq bNbc} bddmambNa} “ dmNeName` eNl j|hb qrwwj|mNcqbtmabq |j jtbajfb |bahNj`jc} eljw|mjN eNl ajfw`meNab hrl`bq.

<48 4,<87 57 `js

55wjcefq |he| wjtmlb dmN eNamNc dj, j lmba|`} drNl ajNqbte|mjN eNlbNbc} bddmambNa} rwcelbq mN `js&mNajfb eNl fmll`b&mNajfb lsb``mNcq.

818 4,4?7 57? `js

5?

dmNeNamNc wjcefq dj ajffbame`, mNlrq|me` eNl feNrdea|rmNcdeam`m|mbq |j blrab cbbNhjrqb ceq bfmqqmjNq o} mNtbq| fbN| mN bNbc}bddmambNa}, bNbc} q|jecb, eNl a`beN eNl bNbseo`b bNbc} wjkba| q.

5<? 5,54? 55 `js

51 eaab`be|bl lbw`j}fbN| jd elteNabl |bahNj`jc} tbhma`bq. 31= <,523 <5 `js

5<`js&aeojN cjjlq fjtbfbN|, dbmch| tbhma`b |bahNj`jcmbq, wro`ma|eNqwj|e|mjN, eNl mNdeq|ra|rb lbtb`jwfbN|.

52< 5,524 5? `js

52 hmch qwbbl em` wjkba| “ qwbamdma |j |hb ojjIbNl wjkba|q. <<? ?,425 15`js |j

fblmrf&`js

54mfwjtb se|b qrww`} |hjrch fjb bddmambN| q|jecb, ajNtb}eNab, eNlfeNecbfbN| mNdeq|ra|rb.

585 5,=4? 55`js |j

fblmrf&`js

53dmNeName` eqqmq|eNab dj `jae` cjtbNfbN|q |j mfw`bfbN| |hbmqrq|emNeo`b ajffrNm|} q| e|bcmbq lbtb`jwbl |j fbb| |hb cje`q jd qo 132.

172 ?,<=4 58 `js

58 cbbN oeNI. 851 2,4?8 3< `js

R Q m N C | H B E @ @ js E N A B T E @ R B D _ j F A E @ m D j _ N m E ” Q A E _ O j N | _ E L m N C Q } Q | B F

Nj|b; `bce` r mqi `btb ` rbd`ba|q e Qmna`em r Wemn|  ene`}q mq

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 16/205<

hbqb rbtbnbq erb qwbn n wrkbaq lbqcnbl obnbAe`rnenq r hqbh`lq rbabtb hb rbtbnbq lrba` n

hb rf rboeb ahbaiq. |hbqb lrba enl nlrba obnbq

erb lbqcnbl qb en narbeqbq n bnbrc aqq.

B`ba|rmam|} 

Rnlbr fq hb wrwqe`q nlbr anqlbren rebwebrq

`l qbb `br b`bara aqq r nber ` nbre` aq

lbrbnabq. @&nafb ef`bq bnr``bl n Ae`rne

E`brnetb _ebq r Bnbrc enl `&anqfwn

hqbh`lq erb bxw`a` wrbabl rf reb narbeqbq.= 

E abnre` qqb q hbhbr hb e``enab te`b he q

ete`eo`b qb hb wbne` narbeqb n aq q qbl

wrbtbn narbeqbq n b`bara o``q r o``q `` ob e``bl

rqb enl hb e``enab te`b q rbrnbl aqfbrq

hrch e lrba wefbn.

Db` Ajq|q

|hb E_O bqfebq he en ceq`nb (r hbr b`- wrab

narbeqbq rb`ebl hb aew&enl&relb wrcref `` lbwbnl

n h bbatb hbr wrcrefq wrtb ob. m bnbrc

babna fbeqrbq hb _bnbeo`b Wr` Qenlerl enl

hbr w`abq erb fw`bfbnbl bbatb` hb `` rblab

bfqqnq enl hb`w ibbw e``enab wrabq `. m hbqb

fbeqrbq erb n bxbabl bbatb` e``enab wrabq ``

rqb.

O ?7?7 hb E_O wrkbaq e rqb n ceq`nb wrabq 4

wbrabn rf aew enl relb eqqfnc qbq enl fbeqrbq

rblab bfqqnq n hb b`bara enl renqwren

qbarq fbb qebl ce`q.57 m hqb fbeqrbq ln” fbb

qebl ce`q ceq wr abq a`l rqb hchbr. O ?7?7 ceq

wrabq a`l narbeqb o obbbn ,7.58 enl ,5.<2 wbr ce``n

(n ?773 l``erq- enl lbqb` a`l narbeqb o obbbn

,7.?< enl ,5.83 wbr ce``n (n ?773 l``erq- lb hb aew&enl&relb wrcref.55 

@jsbr Mnajfb Hjqbhj`lq

jtbre`` `br&nafb hqbh`lq qwbnl e hchbr wrn

hbr nafbq n bnbrc `betnc hbf t`nbreo`b aew enl

relb rbq`q n hchbr bnbrc aqq. jnb wn qb

hq rqi q nnb` qfb hb fnb reqbl hrch hbaew&enl&relb wrcref lrba` Ae`rne ef`bq n hb

rf rboeb ahbaiq. m hb qeb lbalbq fw`bfbn hq

qrebc q bxwbabl he fq hqbh`lq `l rbabtb

wefbnq he `l bxabbl en narbeqbl &&waib

bxwbnqbq r hchbr bnbrc aqq.

@br nafb affnbq enl affnbq a`r bn

eab crbebr banfa enl hbe`h fweaq rb`ebl xa

bfqqnq. mn Fnlnc hb A`feb Cew; she”q e qeib

Ae`rne”q a`feb `e qn” lnb rch enl rch ee e

ql he bxefnbq h a`feb w`a n Ae`rne ``

fwea lqeltenecbl affnbq enl affnbq a`r hb ehrq nb hb fwrenab n n` anc

aeron bfqqnq o e`q bnqrnc he bfqqnq erb

rblabl n e`` affnbq. |hb ehrq rb ‐mn Ae`rne

ah`lrbn n wtbr cbhbr h e`` wbw`b n wtbr

`tb lqwrwrneb` nber `ercb ea`bq bf nc xa

er w``n enl crbbnhqb ceqbq.‖5? |hb rbqberahbrq

lafbn h e rqi affnbq a`l qbr ellne`

hbe`h enl banfa anqbubnabq hb qeb e`q bnqrb

he bfqqnq erb rblabl n e&rqi affnbq.

H hb qeb lbalbq e``aeb rbtbnbq rf hb aew&

enl&relb wrcref a`l obcn ellrbqq hq lqwer. Eq

nbl wrbtq` hb @Ej bqfebq he n ?75?&51 aew enl

relb ean rbtbnbq a`l rencb rf ,447 f``n

tbr ,1 o``n. |hb @Ej enl hbrq e`q lqaqq he hbqb

rbtbnbq fq ob qbl fceb CHC bfqqnq r hb

herf aeqbl o CHC bfqqnq.51 Fen hb e`brnetbq

b ene`{bl n hq rbqberah `` nlbbl fceb CHC

bfqqnq r hb herf aeqbl o ternc lbcrbbq

hbe`|h eNl bNtmjNfbN|e` obNbdm|q

jd eo 1?EO 1? rburbq hb Ae`rne Er _bqrabq Oerl

bte`eb hb tbre`` qabe` obnbq fw`bfbnnc hb

`e na`lnc rblanq er w``enq (qlb aeron

bfqqnq- enl wqqo`b hbr obnbq hb bntrnfbn

hb banf enl wo`a hbe`h.5< sh`b bxwbr rbqberah

affqqnbl o Nbx 57 enl qffer{bl n hq lafbn

R Q m N C | H B E @ @ js E N A B T E @ R B D _ j F A E @ m D j _ N m E ” Q A E _ O j N | _ E L m N C Q } Q | B F

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 17/2052

wrtlbq en banfa enl `bce` ene`qq lbrbne`brnetbq r e``aenc aew&enl&relb rbtbnbq hb

rbqberah lbq n `` anqlbr hb rencb ntbqfbnq

enl rb`ebl bntrnfbne` enl hbe`h a&obnbq rf hbqb

e`brnetbq qbq rbtbnbq.

Dr nqenab ntbqfbnq fe e`q na`lb nere` rbqrab

wrban rblab bfqqnq enl qbubqbr frb aeron.

Eq hb hrl `ercbq qeb Ae`rne q hfb nber` 577

f``n earbq `enl hah q qbl enl fenenbl r

ecra`rb wrlan weriq fobr cre{nc enl wbn

qweab. A``batb` hbqb rbqrabq hb`w a`ben r er

enl ebr wrtlb l enl obr enl qww` heoe rAe`rne”q ltbrq qh enl `l`b. mntbqfbnq n

nere` rbqrabq a`l hbrbrb hb`w Ae`rne fbb q

bfqqn rblan ce`q h`b wrfnc e nfobr hbr

obnbq hb bntrnfbn banf enl wo`a hbe`h

anqqbn h EO 1? ce`q.

mn elln hb obnb rblanc Aj? bfqqnq fen

hb aew&enl&relb rbtbnb e``aen e`brnetbq ``

ternc lbcrbbq e`q rblab hbr xa w``enq na`lnc

{nb wera`eb febr aeron fnxlb nrcbn lxlb

enl q`r lxlb. _blanq n hbqb inn anrorq

eqhfe ahrna oqratb w`fner lqbeqb rbqwrer

``nbqqbq aerlteqa`er lqbeqb wrbferb lbeh enl

hbr eltbrqb hbe`h fweaq `` fwrtb wo`a hbe`h

n Ae`rne. Anc hbqb w``enq `` e`q rbq` n

fwrtbfbnq n `eor wrlat eq hbrb `` ob bbr

`q rileq enl e hbe`hbr ri bntrnfbn.52 

jtbre`` q n wqqo`b bqfeb hb a&obnbq rf

e`brnetb qbq e``enab rbtbnbq h frb qwbaa

nrfen eo h enl hf hb rbtbnbq `` ob

lqrobl. she q a`ber q he hbrb erb qoqene`

a&obnbq rf fbeqrbq he fwrtb bnbrc babna`br tbha`b f`bq retb`bl enl fwrtb hb b`&babna

tbha`bq. En ewwrxfeb fbeqrb hb a&obnbq aen

ob cecbl rf hb Wo`a Hbe`h Ene`qq Qww`bfbn

r hb Lre Qawnc W`en54. |hq rbwr bqfebq hb

rblanq n NjX (24 nq wbr le- enl WF?.2 (5? nq e

le- rf qfb hb lrba qawnc w`en fbeqrbq rb`ebl

tbha`b enl bnbrc babna enl hb lbw`fbn

rbnbeo`b bnbrc enl e`q qhq hb eqqaebl hbe`h

obnbq. m qh`l ob nbl he qbtbnbbn hb bchbbn

qabnerq bxefnbl n hb rbqberah affqqnbl o Nbx

57 enl qffer{bl n hq rbwr rbq` n CHC bfqqnrblanq hrch bnbrc babna fwrtbfbnq enl*r

rbw`eanc aeron&bfnc bnbrc qrabq h rbnbeo`b

bnbrc qrabq.

Enhbr rbabn ene`qq hb te`b a&obnbq rf

EO 1? rb`ebl fbeqrbq q hb ene`qq rbwrbl o hb

Efbraen @nc Eqqaen”q rbwr n ‘|hb _el

A`ben Er” Fe ?755.53 |hb Ae`rne tbha`b qenlerlq

bntqnbl eq wer hb Qawnc W`en `` rblab tbha`b

CHC bfqqnq o <2&2? wbrabn rblab qfc&rfnc

bfqqnq o 32&82 wbrabn enl rblab wrbferb lbehq

enl ``nbqqbq o 42&32 wbrabn. jtbre`` hbrb `` ob obbbn,3.? enl ,8.5 o``n n etlbl hbe`h c`oe` erfnc enl

qabe` aqq.

|hb A`ben Er Ea bneabl n 5=37 wrtlbq q h enhbr

bxefw`b h en bntrnfbne` `e e hb nene` `btb`

aen eahbtb banfa enl wo`a hbe`h obnbq. |hb jab

Fenecbfbn enl Olcb bqfebl hb obnbq rf

hb wbrl 5==?&?77? ob ewwrxfeb` ,5?5 ,5=1

o``n r hb R.Q. h aqq ob ,?1 ,?3 o``n. |he

renq`ebq n ,< ,8 n obnbq r beah l``er ntbqbl

n a`ben er.

58

R Q m N C | H B E @ @ js E N A B T E @ R B D _ j F A E @ m D j _ N m E ” Q A E _ O j N | _ E L m N C Q } Q | B F

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 18/2054

she| mq Nbx| :|hb rq aew&enl&relb aeron wbrf ean n Ae`rne q

qb r Ntbfobr ?75?.

Fnb reqbl rf hb ean bfqqn e``enabq

rb`ebl cbnbrenc b`bara `` c `bq r hb

obnb hbr aqfbrq. Bxea` h hq lqron

aqfbrq `` aar `` ob lbalbl o hb Wo`a R`bq

Affqqn o Knb ?75? r wrteb` nbl `bq

enl o hb ctbrnnc oerlq wo`a` nbl `bq

qfbfb hq ber.

E qbanl wrn bfqqn e``enabq `` ob ctbn

nlqre` afwenbq eq `nc eq hqb oqnbqqbq fenen

 koq enl banfa eat n hb qeb. Ae`rne ef`bq

obnb rf hq e``aen wrbtbnq koq rf `betnc

hb qeb. O hb rbb e``aen e``enabq q

cbnbrq a`l `bel nle`` wrq r nlqr. |hb

E_O `` bte`eb hq qqb tbr fb.

|hb hrl wrn q hb rbtbnb cbnbrebl rf eannc

e``enabq. mn hb nbx qae` ber rbtbnbq `` efn

,7.4 ,5.8 o``n enl `` cr tb&`l o ?752 hbn

nere` ceq enl renqwren b`q afb nlbr aew enl

relb. mn hb `nc rn hb `ercbq bba n hqbh`lq ``

hncb n hb lbaqn eo h qb hbqb rbtbnbq.

mn qffer bfqqn e``enabq n EO 1?”q aew&enl&relb

wrcref rbwrbqbn o``nq l``erq n te`b r Ae`rnenq

& te`b he `` n `betb hb qeb”q banf. jtbr hb nbx

qbtbre` fnhq hb Ae`rne Wo`a R`bq Affqqn

Ae`rne Er _bqrabq Oerl qeb `efeibrq enl

Ctbrnr Orn `` lbalb h qwbnl hq fnb. |hbqb

erb te`` fwren lbaqnq he qh`l ob nbrbq e``

Ae`rnenq.

wbtmjrq bqbeah o} Nbx| 57Wrbtq rbqberah wo`qhbl o Nbx 57 enl affqqnbl

rf e nfobr bxwbr ehrq bxefnbl aew enl relb

frb orel` bxw`ennc h hb wrcref `l ob

lbqcnbl.

mn hq wrbtq ri Lbqcnnc hb E``aen Wrabqq r

Ae`rne”q Crbbnhqb Ceq Bfqqnq |relnc Wrcref;

|hb f`&o``n l``er ubqn fearbanfa rbq`q rf

_`enl&H`q nlaeb he eannc rbtbnbq q wrbbreo`b

enl qhq he hb ltlbnl ewwreah wbrrfq b`` n

fearbanfa brfq eq afwerbl hb ex rblan.RQA _bqberah Wrbqqr Elef _qb”q afwenn rbqberah

``qrebq hb te`b rbb e``aen he wrabqq wrbaq

anqfbrq rf aq narbeqbq.

Wrbtq qlbq rf Orre enl Werr rbtb hb rbeqnq

banfqq wrbbr qnc e``enab te`b a ex rebq.

m e ltlbnl ewwreah brb ahqbn hb br hb lbe

arbetb ewwreahbq qnc hb qrbef bxwbabl

rb rboeb wefbnq eq a``ebre` n `enq r a`ben bah

ntbqfbnq. Frcbnqbrn enl Frb aqbl hbr rbqberah

n hb nlqre` qbar enl nl n hbr qhr&rn ene`qqhb fweaq Ae`rne”q bnbrc nbnqtb enl relb

bxwqbl nlqre` qbarq `l ob qfe``. Drbb e``aen

`ercb` henl`bq en nbcetb aq.

R Q m N C | H B E @ @ js E N A B T E @ R B D _ j F A E @ m D j _ N m E ” Q A E _ O j N | _ E L m N C Q } Q | B F

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 19/2053? 7 5 ? a e ` m d j r n m e c r b b n m n n j t e| m j n m n l b x

bNlNj|bq

5 Ellne` lbe`q eo hbqb wrcrefq aen ob nl n E Wrfbr n hb Rqb E``enab Te`b Arbebl nlbr hb Aj? Aew&enl&|relb Wrcref

? hw;**.ero.ae.ct*aa*ntbnr*lee*eo`bq*rblanqZrfZqawncZw`enZfbeqrbqZ?757&57&?8.wl

1 hw;**.ero.ae.ct*aa*ntbnr*lee*eo`bq*rblanqZrfZqawncZw`enZfbeqrbqZ?757&57&?8.wl

< Dne` Qww`bfbn hb EO 1? Qawnc W`en Dnane` Bute`bn Lafbn (w. 4-

hw;**.ero.ae.ct*aa*qawncw`en*lafbn*ne`Zqww`bfbnZZqwZbl.wl

2 Nb he hb banfa ene`qq ll n ̀ i e qfb hb wnq lqaqqbl o hb Banfa enl E``aen Eltqr Affbb (BEEA-

na`lnc qnc ean rbtbnbq etl rb ex narbeqbq r rbqrnc qwbnlnc n qeb wrcrefq ̀ ib blaen.

4 AE_O Dne` _bc`en jrlbr Ae`rne Aew n Crbbnhqb Ceq Bfqqnq enl Ferib&Oeqbl Afw`enab Fbahenqfq (£=2837(l- w.=3-

ete`eo`b e hw;**.ero.ae.ct*aa*aewenlrelb*ne`rbcrlbr.wl.

3 Ae`rne Anqn Era`b < Qban 5?9 hw; **.`bcn.ae.ct*.anq*.era`bZ<.

8 Qna`er Wen A. t. Qeb Ol. Bue`{en 52 Ae` <h 844 (5==3-.

= mn Ae`rne b`bara rebq erb brbl qnc e oeqb`nb uen b`bara anqfbl. |hb oeqb`nb q ae`a`ebl qnc a`feb qbeqn enl hb

b`bara qecb hn e ctbn ‐a`feb {nb.‖ E hqbh`l anqfnc e r ob` hb oeqb`nb uen n e ctbn fnh q n |br 5. Hbtbr e

hqbh`l anqfbq tbr 577 wbrabn oeqb`nb hb e`` n hb wwbr brq. |hb aq b`bara anqfbl n beah ellne` br q hchbr

bnarecb anqbrten enl ibbw rebq ̀ r hqbh`lq h l n qb fah b`bara r h rburb ̀ &aq b`bara oeqbl n fblae`

nbblq r wtbr hrbqh`lq.

57 Er _bqrabq Oerl ‐Rwlebl Banfa Ene`qq Ae`rne”q A`feb Ahencb Qawnc W`en‖ Ferah ?757.

55 Er _bqrabq Oerl ‐Rwlebl Banfa Ene`qq Ae`rne”q A`feb Ahencb Qawnc W`en‖ Ferah ?757.

5? Frb``&Drqah Qell Qaccnq Fnlnc hb A`feb Cew.

51 @Ej |hb ?75?&51 Olcb; Aew enl |relb Ean _btbnbq Dborer 54 ?75?.

5< EO 1? ̀ encecb

52 Wo`a hbe`h enl bntrnfbne` obnbq lre qawnc w`en fbeqrbq

54 A`feb Ahencb Lre Qawnc W`en; Wo`a Hbe`h Ene`qq Qww`bfbn.hw;**.ero.ae.ct*aa*qawncw`en*lafbn*bxbatbZqfferZwo`ahbe`h.wl

53 Efbraen @nc Eqqaen |hb _el A`ben Er Fe ?755.

hw;**.`nc.rc*eqqaenq*qebq*ae`rne*eqqbq*wlq*eltaea*a`ben&aerq&aefwecn*hb&rel&&a`ben&er.wl

58 |hb a`ben er ea ”q banfa obnbq weq wrbqbn enl rb. Qfe`` Oqnbqq Fekr hb Fen Qrbb E``enab. jaobr ?757.

7/31/2019 Get Ready for Cap and Trade, California

http://slidepdf.com/reader/full/get-ready-for-cap-and-trade-california 20/20

rqmNc |hb e``jseNab te`rb djfae`mdjNme”q aeojN |elmNc q}q|bf;`bce` mqI dea|jq, mfwea|q |je|bwe}bq eNl |hb bajNjf}

fe} ?75?© ajw}mch| ?75? Nbx| 57

wmN|bl jN 577" ba}a`bl wewb,rqmNc tbcb|eo`b&oeqbl mNIq