Saturday, May 25, 2013

Third California Cap And Trade Auction Sells Out, At Record Price

Record prices?  Compared to...what?  And do you think the control freak greedy CA lawmakers will take kindly to a cash cow going to help the POOR?  God forbid, they use this money to lower electric power costs for consumers!

No, just like the Federal Government that couldn't keep their hands off of the huge Social Security revenue, CA will be far worse.

However, California’s market revenue has become controversial in recent weeks, perhaps a victim of its own success. Governor Jerry Brown has proposed borrowing $500 million from current and future cap and trade revenue to help balance the state’s general fund budget. By law, allowance auction revenue is supposed to be directed toward either reducing emissions or increasing clean energy investments with a specific 25% carve-out for disadvantaged communities.
And when the economy, which is STILL in horrible shape hits the skids again, carbon credits will TANK.  And where will CA get the money from then?

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