California's Third Carbon Auction Raises about $280 Million

That's enough for, like, 20 feet of high-speed rail, right?

California's third carbon-allowance auction raised more than $280 million as polluters bid for the right to emit greenhouse gases, state officials said today.

The California Air Resources Board released results of its third carbon auction, which was held last Thursday.

Carbon credits that let polluters emit greenhouse gases this year sold for $14 a ton. Allowances for 2016 sold for the minimum $10.71 a ton.