California has become the latest Democratic-led state to
The California Air Resources Board (CARB) voted to give up as much as $4 billion worth of free allowances to oil refiners and other industrial polluters to help them comply with greenhouse gas limits imposed by the state’s 13-year-old carbon market, called Cap-and-Invest.
Economists and environmentalists said the change may lead to higher emissions and lower prices on the carbon market, which is key to meeting a state mandate to achieve carbon neutrality ...