California Cap & Trade Permits Hit a New Auction High

Permits to emit greenhouse gases in California hit a new high at the most recent quarterly auction:

The LA Times has more:

During August’s auction, every emission permit offered by the state was sold, and prices reached their highest level since the program launched five years ago. The auction results, announced Tuesday, were the first since Gov. Jerry Brown signed legislation continuing cap and trade until 2030, erasing some of the political and legal uncertainty that had dogged the program.

….Even though the cost of permits has been rising, it may not happen fast enough to provide an adequate financial incentive for companies to clean up their operations, said Danny Cullenward, a Stanford University energy economist. State regulators should take steps to ensure they’re auctioning the right number of permits because making too many available could allow too many emissions, he said.

It’s a start.

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Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

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