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California’s second cap-and-trade auction: Signs of a maturing market

Elizabeth Bailey, adjunct professor, Haas School of Business | February 26, 2013

The California Air Resources Board (ARB) held its second auction for greenhouse gas allowances this past Tuesday (Feb. 19).  Severin Borenstein blogged about his reactions to the first auction held back in November 2012 here. As a quick refresher, in the first auction, the market clearing price for a “current” vintage 2013 allowance was 9 … Continue reading »