The Technology and Innovation Centre's Scottish Low Carbon Power and Energy Partnership, a research program funded by ScottishPower and SSE, has entered its tenth year.
California's carbon market was supposed to be a model for the US, harnessing the power of capitalism to fight climate change in the world's fifth-biggest economy.
Oil managed a slim gain with the IEA highlighting the precariously tight state of global fuel stockpiles, while the EU signallled its members may not yet be able to agree on a Russian oil ban.
Oil rallied as the European Union continued to haggle with holdouts over a Russian crude ban while a US government report showed fuel inventories plunging ahead of the summer driving season.