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California Launches Cap and Trade Program with First Auction

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California today began its long-awaited "Cap and Trade" program designed to reduce greenhouse gas emissions back to 1990 levels in the next 8 years. The State Air Resources Board says it’ll make a difference in global warming. But polluting industries say California's impact will be minimal, that energy costs will increase for all Californians and that some businesses will be driven out of the state. Today's sale of so-called "carbon credits" will be secret until next Monday, but it's already faced with challenges from business and from environmentalists. Also, an electric four-door sedan made in California is Motor Trend's Car of the Year. On our rebroadcast of today's To the Point, the battle over Obamacare continues.

Banner image: Gord McKenna/flickr