Saturday, November 16, 2013

Court upholds California’s cap-and-trade system

What a perversion of State responsibility.

The ruling means that California maintains its authority to limit greenhouse gases from power plants, factories and other businesses.
And what happened to that money they collected from can and trade?

The state has already raised nearly $1.1 billion from the sale of tradable carbon allowances. That money is supposed to go toward climate and environmental programs, but Gov. Jerry Brown (D) has borrowed $500 million from the fund to help pay for unrelated programs. He says it will be repaid with interest.
Yep.  Cap and trade is just another revenue generator for the state to pilfer.

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