"SACRAMENTO, Calif. -- Despite fierce opposition from much of the business community, California's grand experiment in taming global warming begins in earnest Wednesday."

"State officials are set to auction tens of millions of dollars' worth of carbon-emission allowances to scores of oil refiners, cement manufacturers and other large industrial polluters.

The computerized auction marks the beginning of California's "cap-and-trade" market. The market is the centerpiece of Assembly Bill 32, the state's 2006 law aimed at reducing greenhouse gases, and Wednesday's kickoff is being closely watched."

Dale Kasler reports for the Sacramento Bee November 13, 2012. [2]

SEE ALSO:

"Calif. To Officially Launch Greenhouse Gas System" (AP) [3]