Only a few drips of cash expected from cap-and-trade auction

California’s cap-and-trade program limped through another weak auction of pollution permits last month, according to results provided by state regulators Wednesday.

Demand for the permits, which are required to release greenhouse gas emissions into the atmosphere, has fluctuated over the last year amid questions about the program’s long-term viability.

A state appeals court is expected to rule soon on whether cap and trade represents an unconstitutional tax, and lawmakers are debating whether they should ensure the program continues past 2020. Read more

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