Why is setting a carbon cap so difficult in practice? It seems to me that all regulators must do is say "California must emit less than x tons of CO2 in 2025, x-1 tons of CO2 in 2026, so we're selling x permits in 2025, x-1 in 2026" etc. Indeed, that's the textbook case. I think y'all mentioned how there are other considerations with certain industries (i.e. reliability in electricity production), which makes sense, but I still don't really understand why it would be so bureaucratically complex to set a hard limit on CO2 emissions.

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