In one of his final acts as the President pro Tem of the California State Senate, Darrell Steinberg penned a letter to Assemblyman Henry Perea over the weekend with the news that AB 69, which takes aim at California’s cap and trade program, would not receive a hearing before the end of this year’s legislative session.

Harvard professor Robert Stavins guest posts this week. Check out his latest essay on California’s cap-and-trade program, from his excellent blog, "An Economic View of the Environment."

Where should California start investing the millions of dollars raised by cap and trade? Energy efficiency is a clear winner.