Michael Steel

Michael Steel

Morrison & Foerster LLP

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California’s Cap-and-Trade Auction Is Not a Tax: Court Decides “Close Question”

In a twin set of wins for the state, two lawsuits challenging California’s flagship cap-and-trade auction system first implemented in November 2012 were rejected by Sacramento Superior Court Judge Timothy Frawley this...more

11/18/2013 - Cap-and-Trade Carbon Emissions Environmental Policies Greenhouse Gas Emissions

Picking Up Steam? CARB Reports that California’s Second Carbon Auction Exceeds Price Expectations

California’s second auction of greenhouse gas (GHG) allowances exceeded expectations, with allowances clearing above both the reserve price and the price predicted by leading market analysts. All of the 12.9 million...more

2/26/2013 - CARB CARB Allowances Carbon Auctions Greenhouse Gas Emissions

Court Rejects Challenge to California’s Cap-and-Trade Carbon Offset Program

On January 25, 2013, a California state court rejected a challenge to an important component of California’s cap-and-trade scheme, its emission offset program. In the first legal decision regarding the program since its...more

1/31/2013 - Cap-and-Trade CARB Climate Change Forest Protocol Greenhouse Gas Emissions Livestock Protocol Set Off

Putting the Brakes on San Diego’s Transportation Plan

The first “Sustainable Communities Strategy” adopted to guide long-range land use and transportation planning under SB 375 now has the distinction of being the first such plan set aside for failing to comply with the...more

12/12/2012 - CEQA Climate Change Greenhouse Gas Emissions Sustainable Communities Strategy

CARB Restates Its Cap-and-Trade Auction Results

Last week the California Air Resources Board (CARB) issued an update to its November 19, 2012 report summarizing the results of the State of California’s first auction of greenhouse gas emissions allowances. The results in...more

12/11/2012 - California Air Resources Board Cap-and-Trade Greenhouse Gas Emissions

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