The battle over California’s cap-and-trade slush fund

California is nothing if not innovative. The state government found a way to pull $28 billion out of greenhouse gases and deposit all of it into a slush fund.
More specifically, the money was pulled out of utilities, oil companies, manufacturers and other entities that are required to buy permission to emit greenhouse gases. The California Air Resources Board, known as CARB, created the cap-and-trade program as a way of meeting the state’s self-imposed mandate to reduce greenhouse gas emis