The Smithian

California has approved the most sweeping U.S. plan to reduce greenhouse gas emissions, acting on its own against climate change as proposed nationwide plans flounder in Washington…The largest U.S. state, which would be the world’s eighth largest economy if it were a country, will from 2012 start a cap-and-trade system under which industry will be required to cut emissions but can trade credits on a new market…Outgoing Gov. Arnold Schwarzenegger (R), who has differed sharply with much of his Republican Party on the environment, saw the decision by a state panel late Thursday as part of his legacy.

the home state! more, here.