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Upcoming auction revives debate on new greenhouse gas regulation

A central component of the 2006 state law aimed at reducing California’s greenhouse gas emissions to 1990 levels by 2020, the state’s cap-and-trade program, will start to be enforced by the beginning of 2013. But in just a few weeks, the program will face its first test, as the California Air Resources Board holds its first auction at which greenhouse gas-emitting companies will have a chance to purchase emissions allowances.

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