Crony Capitalism on Display in California’s Cap-and-Trade Re-Authorization

The California Legislature has reauthorized the nation’s first state-run cap-and-trade program, to the delight of Governor Jerry Brown. California has already raked in $3.4 billion from cap-and-trade auctions since the Legislature implemented the program in 2012, much of that money going to politically favored projects.

Source: Crony Capitalism on Display in California’s Cap-and-Trade Re-Authorization

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