Emission Rights

The Schwarzenegger administration pushed through new rules Thursday allowing California's biggest timber firms to cash in on the fight against global warming even as they clear-cut parts of their forests. Forest owners stand to reap tens of millions of dollars in the coming decades by selling the capacity of their woods to cleanse the air of carbon dioxide, offsetting greenhouse gases belched by industrial polluters. But the administration's successful effort to allow loggers to sell their carbon credits to industry while also clear-cutting their lands sparked intense opposition from several conservation groups.

A federal district judge will hear arguments today over whether an air-pollution control agency issued invalid emission credits to businesses and public facilities in one of California's most polluted regions.