"California Board Approves Cap and Trade on Carbon Emissions"

"California approved one of the broadest and most controversial components of its landmark climate change law, pushing the state toward a low-carbon economy that relies less on imported foreign oil.

The California Air Resources Board on Thursday voted to adopt final rules that will regulate carbon emissions across a broad cross section of the state's economy, including oil and gas producers, utilities and transportation companies, farmers and the building industry.

'We will look back at this as an important date in California's transition to a clean energy economy,' said Mary Nichols, the air board's chairwoman.

Dubbed the economic equivalent of 'a moonshot' by its backers and a 'job killer' by detractors, the 'cap and trade' system adopted Thursday sets limits on the amount of carbon dioxide that can be produced by 350 of the state's largest industrial polluters starting in January 2013."

Rick Daysog and Dale Kasler report for the Sacramento Bee October 21, 2011.

SEE ALSO:

"California Becomes First State To Adopt Cap-And-Trade Program" (Los Angeles Times)

"Cap and Trade: Sweating the Small Stuff" (Green/NYT)