Californians approve Schwarzenegger-blessed cap-and-trade bill

Washington (Platts)--5Sep2006

Subject to final verification by the state assembly's chief clerk, the
lawmakers in the world's 12th largest greenhouse gas emitter -- California --
have approved for Governor Arnold Schwarzenegger's signature a bill that would
make California the first state to put a cap on such emissions from industrial
sources.

The measure will require utility power plants, cement kilns, and gas and oil
refineries to reduce carbon dioxide emissions, as well as other greenhouse gas
emissions, by 25% from the 1990 base year by 2020.

If the bill is enacted, the 11-member, governor-appointed California Air
Resources Board may then create an allowance trading program.

The state Senate had approved the measure Wednesday on a 23-14 vote, prior to
sending it to the Democratically-controlled Assembly.

Schwarzenegger, who described the plan as "an example for other states and
nations to follow as the fight against climate change continues," is expected
to sign the bill into law.

"Today it feels as if the whole world is watching, and I hope they are," Ann
Notthoff of the Natural Resources Defense Council, said in a statement.

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