Dismal cap and trade auction is another reason to nix high-speed rail project

The results of the latest California cap and trade auction are in, and they are not good —especially for the state’s high-speed rail project.
After February’s auction of pollution licenses brought $613 million to state coffers, the haul for the quarterly auction in May was a paltry $25 million. The low figure was expected due to the coronavirus pandemic and shelter-in-place orders reducing travel and thus the demand for emissions allowances.  But since the high-speed rail