US lawmaker sees need, pathway for CO2 pricing in budget reconciliation bill
Carbon pricing could help alleviate funding issues involved in US Democrats’ proposed $3.5-trillion budget reconciliation bill, while the mechanism could also ensure the US reaches the long-term climate goals laid out by the Biden administration, a panel heard Wednesday.
Read MoreCalifornia gasoline consumption edges down in July as demand narrows to 2019 levels
California gasoline demand per day declined slightly in July even as Governor Gavin Newsom (D) removed all COVID-19 restrictions, but the Golden State’s fuel consumption still narrowed against historic levels, according to federal data.
Read MoreGWSA September auction sets new all-time high as prices surge above RGGI levels
Massachusetts Global Warming Solutions Act (GWSA) allowance prices surged nearly 30% in the final auction of the 2021 compliance year, with the settlement eclipsing the most recent quarterly auction price in the Northeast US RGGI cap-and-trade programme.
Read MoreStakeholders raise legality, reliability concerns about California 2022 Scoping Plan options
Stakeholders are advocating for California regulator ARB to increase the stringency or the long-term certainty of its WCI-linked cap-and-trade programme in the 2022 Scoping Plan, while power utilities and an oil major raised reliability and legality questions about current scenarios, public comments show.
Read MoreWCI emitters added to short positions for second consecutive week as financials remain static
WCI regulated entities increased their open short positions for the second consecutive week as prices began to rebound in the futures market, while speculators’ holdings rose slightly over the period, according to US Commodity Futures Trading Commission (CFTC) data published Friday.
Read MoreUS Carbon Pricing and LCFS Roundup for week ending Sep. 17, 2021
A summary of legislative and regulatory action on carbon pricing, clean fuel standards, and clean energy at the US subnational and federal level this week, including developments in Illinois and Pennsylvania.
Read MoreFollowing recent trend, new speculative firm opens RGGI account
A new speculative trading firm opened a RGGI CO2 Allowance Tracking System (COATS) account on Thursday, with the new registration aligning with the recent trend of financial firms entering the Northeast carbon market.
Read MoreNA Markets: CCAs set fresh all-time high, as RGGI allowances notch own record following Q3 auction
California Carbon Allowances (CCAs) set a new record high this week as aggressive buying following the California recall election caused prices to surge, while RGGI Allowances (RGAs) found further support to hit their own all-time high after the Q3 auction result aligned to expectations.
Read MoreLegislative timelines may push back Pennsylvania’s RGGI entrance in 2022
Legislative timelines may delay the Pennsylvania Department of Environmental Protection’s (DEP) implementation of its RGGI-modelled cap-and-trade rule next year, with the outcome potentially causing the Keystone State to join later in 2022.
Read MoreUS gov’t agency approves subcommittee to examine carbon market design, regulation
The US Commodity Futures Trading Commission (CFTC) voted Wednesday to create a subcommittee group to explore carbon market design, with the scope to provide input on frameworks for compliance and voluntary programmes.
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