California leaders expect economic benefits from federal government’s EPA rules

California leaders expect economic benefits from federal government’s EPA rules

Californian leaders are optimistic that the state's push to curb greenhouse gas emissions ahead of the federal government's recently proposed Environmental Protection Agency (EPA) rules will give the state an economic edge over others states of the nation.

The Obama administration on Monday announced EPA rules that will require all states to cut their carbon dioxide/greenhouse gas emissions from power plants by 30 per cent by 2030 from 2005 levels.

But, California is already moving ahead with its stricter targets. Its 2006 global warming law has set target of cutting overall greenhouse gas emissions by 30 per cent by 2020, a decade ahead of the federal government's targeted year.

Mary Nichols, who is overseeing the implementation of California's program as chairperson of the California Air Resources Board, said, "This is a great moment for us. Our goal has always been to make California a leader and help push action by the federal government."

She added that the state could benefit from the federal government's ambitious push. The state could benefit from an expansion of the promising trading market for carbon pollution credits.

Californian leaders are eager to see carbon pollution credits growing, because it would pave way for cheaper green energy, which would benefit the state's businesses. The state's solar and wind energy equipment makers, for instance, will enjoy a bigger demand if other states shift their energy policies to renewable sources.

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