E&E News: “Washington Carbon Price Crashes as Possible Repeal Looms”
RFF Senior Fellow Dallas Burtraw shares his thoughts on the effects of a bill to repeal Washington State‘s carbon market and the market's falling prices.
In November, voters will decide whether to repeal the 2021 landmark climate law that created the market. If the initiative passes, it's not clear what that would mean for already purchased allowances—a particular concern for buyers who trade the permits on the secondary market.
“There's huge market uncertainty that caused that price to collapse,” said Dallas Burtraw, Resources for the Future senior fellow and chair of a California independent advisory committee on cap and trade.
