Words cannot fully express my heartfelt gratitude to the Earth and Environmental Science Department and MES Program Director Dr.Siobhan Whadcoat for their unwavering support throughout this journey. Their open doors and encouragement created the foundation upon which this capstone project could flourish. I owe a profound debt of gratitude to my academic advisor, Mr. Mitch Cron, who has been my guiding light these past two years. His thoughtful insights, patient mentorship, and meticulous feedback as my second reader transformed not just this project, but my entire approach to environmental research. My sincere appreciation extends to the Primary reader, Professor Steven O. Kimbrough, whose challenging questions and strategic guidance helped me navigate complex analytical terrain and discover the true essence of my research question. His wisdom continues to inspire my intellectual curiosity. I am especially thankful to Professor Arthur van Benthem at the Wharton School for his exceptional generosity in sharing non-public data on California's carbon pricing mechanisms. This invaluable contribution elevated the empirical foundation of my study and opened new avenues for analysis that would otherwise have remained unexplored. This capstone represents more than just academic achievement—it marks a personal transformation that has deepened my commitment to addressing our most pressing environmental challenges. The knowledge, skills, and perspectives I've gained during my time at Penn have forever changed how I understand our world and my place within it. As I look toward continuing my journey in sustainable energy and climate policy, I carry with me not just a degree, but the collective wisdom and inspiration of everyone who has touched this chapter of my life.