California regulators holding cap-and-trade auction as lawmakers consider next steps on climate change

By Chris Megerian and Melanie Mason, Los Angeles Times.

As lawmakers debate the future of California's climate programs, they'll be keeping an eye on new developments with the state's cap-and-trade program.

Regulators are holding their regularly scheduled auction Tuesday, an opportunity for companies to bid on the permits necessary to emit greenhouse gases in the state. During the last auction in May, demand for permits dropped, evidence of the legal and political uncertainty surrounding cap-and-trade.