Opportunities in Cap/Trade?. Lon W. House, Ph.D. Water& Energy Consulting 530.676.8956 [email protected] Presented at ACWA Spring Conference Monterey, Ca May 10, 2012. California Carbon Market.
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Gone from high of $47/ton to $8/ton. Now cheaper to pollute than to clean up (carbon capture and storage needs to be about $30/ton, switch from coal to natural gas needs to be about $20/ton)
Prediction of sub$5/ton for the near future. 1.99 billion tons allocated, emitted 1.93 billion tons in 2011. Program allows unused allowance to be rolled over to later years: 1.3 billion tons rolled over to this year
Recommended “solutions”: set carbon floor price, reduce the amount of emission allowances, add other sectors (transport industry), prop up carbon prices, i.e., do not let the market decide.