Monday, November 26, 2012

First cap-and-trade auction a bust for California budget

By Kevin Yamamura, kyamamura@sacbee.com,  67 Comments

State environmental leaders this week hailed California's first auction of carbon emissions credits a huge success.  But budget writers are hardly thrilled.  A low price for credits and minimal demand for future offsets suggest California will see a mere fraction of the $1 billion that Gov. Jerry Brown and lawmakers estimated the state would receive this fiscal year.   If demand remains similar in two forthcoming auctions, the state would generate only about $140 million, the nonpartisan Legislative Analyst's Office estimated Wednesday.  That would strain the $91 billion state budget and disappoint environmentalists who wanted to spend the money on efforts to reduce pollution and improve energy efficiency……Erica Morehouse, staff attorney with the Environmental Defense Fund, said simply placing a price on carbon was an achievement.
"That will get things started in terms of innovation and other benefits we can expect from this market on carbon," she said. "That includes health, green jobs and benefits for schools."     To Read More…… 

My Take We need to thank Californians for their dedication to the green cause and all the agenda items it promotes…..and I suppose that includes bankrupting anyone who disagrees with them and eliminating four to five billion people on the planet.  Of course Californians won’t have to worry about that last requirement.  At the rate they passing regulations to destroy their economy there won’t be many people left living there soon.  But that shouldn’t deter us from appreciating California as the great laboratory for leftism in the world.  The lessons learned in Russia, Cuba, Cambodia, China and the other entire socialist “paradises” was apparently inadequate for the left to decide that socialism, and its stepchild environmentalism, is lunacy.  Deadly lunacy!  Hang in the California….don’t give up at the first sign of bankruptcy!  We are counting on you to show the rest of us the way not to go!   

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