Emissions cap-and-trade program is working well in California

Economics Associate Professor James Bushnell is quoted in the Los Angeles Times.

The climate change debate may seem mostly to be about science, but it's really driven by dollars and cents — what will it take to reduce greenhouse gas emissions, and how much will that cost? Of all U.S. states, California has taken the most direct approach to settling those questions through a pioneering cap-and-trade program.

The state's greenhouse gas emissions have declined since cap-and-trade was introduced in 2013, but "the jury's really out on whether we've seen a lot of reductions caused by cap-and-trade," says James Bushnell, an energy economist at UC Davis who follows the program closely. 

Read more at the Los Angeles Times.