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Abstract

The purpose of this note is to examine the issues surrounding California's carbon market, the challenges of effectively regulating such a market that allows domestic companies to purchase carbon credits generated abroad, and the need for federal intervention if carbon trading is to become an effective and ethical reality in the United States. This note also provides background on the United Nation's REDD (Reducing Emissions from Deforestation and Degradation) programs, as well as covers the history of California's Global Warming Solutions Act of 2006. In addition, this note explains the problems California has with negotiating with foreign governments since those powers are usually reserved for the federal government. Lastly, this note offers a solution to the problem.

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