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Recalibrating California’s Cap-And-Trade Program To Account For Oversupply: An original quantitative analysis and policy recommendations

Recalibrating California’s Cap-And-Trade Program To Account For Oversupply: An original quantitative analysis and policy recommendations

Full Title: Recalibrating California’s Cap-And-Trade Program To Account For Oversupply: An original quantitative analysis and policy recommendations
Author(s): Chris Busch
Publisher(s): Energy Innovation: Policy & Technology, LLC
Publication Date: March 1, 2017
Full Text: Download Resource
Description (excerpt):

For the first time last year, a portion of the current vintage allowances1 offered in one of the California-Quebec cap-and-trade program’s quarterly auctions went unsold. The drop off in volume sold and the variability in demand—which rebounded to 88 percent in the last auction of 2016, only to fall again to 18 percent in the first auction of 2017—have drawn increasing attention from policymakers and the media. This report provides a quantitative analysis of the supply and demand for carbon allowances in the linked California-Quebec cap-and-trade program to help discern the role that temporary or systemic oversupply may be playing

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