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December 17, 2010 6:57 AM

Cap-and-trade rules approved by California Air Resources Board

California took a major step toward the development of a low-carbon economy by approving a cap on the amount of greenhouse gas emissions by refiners, utilities and other energy companies. The California Air Resources Board voted 9-1 to approve the rules for a cap-and-trade program, which will reduce the amount of carbon emissions from the state's 500 largest polluters.

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