Covering the latest California cap-and-trade quarterly auction results, the Los Angeles Times spoke with Near Zero’s Danny Cullenward:

Even though the cost of permits has been rising, it may not happen fast enough to provide an adequate financial incentive for companies to clean up their operations, said Danny Cullenward, a Stanford University energy economist.

State regulators should take steps to ensure they’re auctioning the right number of permits because making too many available could allow too many emissions, he said.

“Lurking in the background is a much more serious issue,” he said.

Read the full article, “California cap-and-trade program gets a shot in the arm with strong permit auction results,” by Chris Megerian, on the Los Angeles Times website.