Major polluters in California will buy and sell permits to release greenhouse gas emission into the atmosphere for the first time Wednesday under the state's landmark cap-and-trade law. Duke University's Brian Murray and Tim Profeta assisted California in analyzing a carbon fee. Their findings are contained in this white paper: http://nicholasinstitute.duke.edu/climate/policydesign/examination-of-ca...

Brian Murray
Director for economic analysis, Nicholas Institute for Environmental Policy Solutions, Duke University
bcmurray@duke.edu
http://www.nicholasinstitute.duke.edu/people/murray/

Quote:
"With California's first allowance auction this week, the state's long-anticipated cap-and-trade program becomes a reality. These auctions will play a critical role in the state's efforts to achieve greenhouse gas emission reductions in an economically efficient manner." 

Tim Profeta
Director, Nicholas Institute for Environmental Policy Solutions, Duke University 
tim.profeta@duke.edu
http://nicholasinstitute.duke.edu/people/profeta/

Quote: 
"We worked with California to help them design an auction system that can contain price volatility and bolster confidence in the market. This will be the first time this system will be used at scale. It will be a test as to whether the California system can be a model for reducing harmful pollutants across the nation and globe."