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California Delays Nation’s First Cap-and-Trade Emissions Auctions, Citing Potential Gaming

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SACRAMENTO -- California regulators are pushing back their first-in-the-nation greenhouse gas trading system by one year to insulate it from potential market manipulation, the head of the state's air agency said yesterday. What was originally intended to be a routine legislative hearing on the status of California's cap-and-trade system became instead a pivotal moment in the state's climate policy, with a standing-room crowd hanging on Air Resources Board (ARB) Chairwoman Mary Nichols' every word

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