The cap-and-trade program has been closely watched around the world as a market-based way to reduce greenhouse gas emissions, but it expires in 2020.The program was devised as a "market based" solution to global warming, putting a price on carbon to create an incentive for polluters to reduce their emissions and save money.Auctioning allowances has raised billions of dollars for programs that address climate change, like electric-vehicle incentives and mass transit development.The nonpartisan Legislative Analyst's Office estimated last year that the cap-and-trade has increased gasoline prices by about 11 cents per gallon and diesel prices by 13 cents.Cap-and-trade proponents say it's an economically flexible way to reduce greenhouse gas emissions that contribute to global warming.Brown, a Democrat who has stoked a global reputation as a climate leader, badly wants lawmakers to extend the program before he leaves office following next year's election.California lawmakers last year approved an ambitious goal to reduce carbon emissions 40 percent below their 1990 level by 2030 and gave the California Air Resources Board broad authority to achieve the goal.[...] local environmentalists, particularly environmental justice groups that work in neighborhoods around pollution sources like oil refineries and ports, have blasted the proposal.Environmental justice advocates have long been skeptical of cap and trade, which they say saddles low-income neighborhoods with toxic air.
NYS Entity Status
NYS Filing Date
JUNE 20, 2014
NYS DOS ID#
NYS Entity Type
DOMESTIC BUSINESS CORPORATION
2014 - HENG RUI GLOBAL TRADING & DEVELOPMENT INC
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