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California gas prices could rise if the state’s cap-and-trade program is extended, legislative analyst says

March 19, 2017 by Billy Hamshaw

(Source: LA Times) As California lawmakers debate the future of the state’s battle against global warming, there’s one politically sensitive issue they’ll have to consider: gas prices. Gov. Jerry Brown wants lawmakers to extend the cap-and-trade program, which requires companies to buy permits to release greenhouse gas emissions. Right now, the price of permits sold in state-run auctions is less than $14. However, if the program is extended and the state pushes forward, the price of allowances will rise, increasing the price of gasoline, according to Ross Brown from the nonpartisan Legislative Analyst’s Office. Read full article…

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