California Adopts Nation’s Most Sweeping Cap & Trade Plan – Killing Jobs

Russ Steele

The KQED Climate Watch has the story HERE:

The next major milestone will come late next year, when the state begins meting out permits or “allowances” to release carbon dioxide into the air. At first, 90% of those permits will be given away but analysts have estimated that within a few years, at least half will be auctioned off at a price estimated by Thomson Reuters Point Carbon analytical service to be about $36 a ton.

Here are some program highlights, taken from a breakdown provided by the Air Board:

Scope
·         Program covers about 350 businesses, representing 600 facilities
·         Starts in 2013 for electric utilities and large industrial facilities
·         Starts in 2015 for distributors of transportation, natural gas and other fuels
·         Designed to link with similar trading programs in other states and regions

The Cap

·         Set in 2013 at about 2% below the missions level forecast for 2012
·         Declines about 2% in 2014
·         Declines about 3% annually from 2015 to 2020

Allowances (Permits to Emit CO2)

·         Large industrial facilities
– Start with free allocation but must buy auctioned allowances later
·         Electric utilities
– Free distribution, with value of allowances to benefit ratepayers
– Allowances to be set at about 90% of average recent emissions

Next Steps:

·         January 1, 2012: Cap-and-trade regulation becomes effective
·         August and November, 2012: first auctions planned
·         January 1, 2013: Compliance obligation for emissions begins

Here is the real problem, all this bull shit was based on the work of the UN IPCC which is  based on questionable science details HERE.  Supported by the EPA Endangerment Finding which according to the EPA Inspector General is not based on science, details HERE.  We therefore we are about to be ripped off by CARB using questionable job killing science. We are being screwed by an out of control bureaucratic agency. Why?

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About Russ Steele
Freelance writer and climate change blogger. Russ spent twenty years in the Air Force as a navigator specializing in electronics warfare and digital systems. After his service he was employed for sixteen years as concept developer for TRW, an aerospace and automotive company, and then was CEO of a non-profit Internet provider for 18 months. Russ's articles have appeared in Comstock's Business, Capitol Journal, Trailer Life, Monitoring Times, and Idaho Magazine.

4 Responses to California Adopts Nation’s Most Sweeping Cap & Trade Plan – Killing Jobs

  1. Steven Frisch says:

    Sounds like a great economic opportunity for the Sierra Nevada. Our forested landscape currently sequesters amongst the most carbon per acre of any landscape on the globe, as much per acre as Amazonian rain forest. Carbon capture and storage projects could put tens of thousands of forestry workers back to work in our region–reconnecting forest land management for timber supply, fuel load reduction, biomass to electrical energy production and biofuels, and carbon management, to rural community development objectives–and protect life, property and the environment at the same time. Our research indicates that the typical forest land owner could see significant new values for their land, potentially in the $600-$1400 per acre range in typical Sierran conifer forest.

    Should we pass on that opportunity and allow Caifornia companies that emit greenhouse gases develop projects in Indonesia, China, India, Brazil, and Canada instead?

    Seems to me that if Russ is wrong, there is a lot at stake for Sierran communities.

  2. Greg Goodknight says:

    The usual suspects are trumpeting California to be the first to adopt cap and trade. I’ve little doubt in 5 years it will be said California was the only state to ever adopt cap and trade and it was a hell of a fight to get rid of it.

    High energy costs compared to the rest of the country, a lousy economy, rampant fraud and a distinct lack of the predicted warming will take its toll.

  3. Didn’t the commodity market go bust on CandT?

  4. Steven Frisch says:

    Russ, I am a liitle disappointed that my comment, made on October 20, at 20:42, is still awaiting moderation. Is that a function of your not receiving it, or an indication that my response on Cap and Trade is not welcome? I would understand if you preferred that I cease posting here.

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