Carbon Trading: California Wants to Play, Too

Less than a month after California legislators voted to cap the state’s carbon emissions, Arnie has announced plans to get the state in on the carbon-trading action. His entrée? The Regional Greenhouse Gas Initiative, a carbon market recently initiated by seven Northeastern states.

An article in yesterday’s Sacramento Bee quoted Arnie waxing poetic on his reasons for joining the market (cue the stirring, patriotic background music):

"But no state, of course, can fight this war alone," Schwarzenegger said. "I think we all have to work together. It truly is a global problem. And states, regions, nations -- all have to work together in order to conquer this problem."

And the fact that carbon trading can generate some serious cash doesn’t hurt, either. Cap and trade programs make it possible for businesses to sell their “extra” carbon rations to other businesses. If Arnie strikes it rich, let’s hope he doesn’t use the extra revenue to buy a fleet of Hummers for the state.