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State shift of carbon fee to deficit questioned
San Francisco Chronicle ^ | January 11, 2012 | Wyatt Buchanan

Posted on 01/11/2012 4:41:56 PM PST by artichokegrower

Gov. Jerry Brown's budget proposal includes nearly $500 million in spending from the proceeds of California's first-in-the-nation cap-and-trade program, but the plan is raising questions about whether the governor is using the new money to cut the budget deficit instead of promoting new greenhouse-gas-reducing programs.

The controversial cap-andtrade program essentially puts a price on carbon emissions by limiting the amount of CO2 that can be produced by the state's largest polluters. They have to purchase credits from the state to cover the amount of carbon emitted.

While the program went into effect Jan. 1, the state's first auction to sell the credits will happen in August, with a second later in the year. Environmentalists and industry leaders have long pushed for the California Air Resources Board, which oversees the program as part of the AB32 greenhouse gas reduction law, to use the money on different programs - with ideas ranging from cutting checks for all residents to massive green jobs programs.

In the first year, the carbon fee may generate upward of $1 billion, though the exact amount won't be known until after the auctions.

(Excerpt) Read more at ...

TOPICS: Business/Economy; Culture/Society; Government; US: California
KEYWORDS: ab32; capandtrade; globalwarming; thanksarnold
So wealth will be transferred from the producers in the private sector and be given to the non producers in the public sector. Those struggling to get by in the private sector will have to pay more for gasoline, diesel, electrical power etc. so that those in the public sector can continue to receive their outrageous benefit packages.
1 posted on 01/11/2012 4:42:03 PM PST by artichokegrower
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To: artichokegrower

“.. limiting the amount of CO2 that can be produced by the state’s largest polluters.”

Shove it where the sun don’t shine, you 30 IQ liberal Mission Street ape. CO2 is not a pollutant.

2 posted on 01/11/2012 4:49:06 PM PST by sergeantdave
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To: All

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3 posted on 01/11/2012 5:01:46 PM PST by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: artichokegrower

Those people trapped in Californicate with no viable option to leave have my sincerest sympathy. To all the others, just keep digging.

4 posted on 01/11/2012 7:44:35 PM PST by RetiredTexasVet (There's a pill for just about everything ... except stupid!)
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To: artichokegrower; 11B40; A Balrog of Morgoth; A message; ACelt; Aeronaut; AFPhys; AlexW; ...
Well, if politicians routinely raid transportation trust funds to balance budgets, what makes anyone think they won't raid global warming trust funds?


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5 posted on 01/12/2012 9:25:18 PM PST by Tolerance Sucks Rocks (Occupy DC General Assembly: We are Marxist tools. WE ARE MARXIST TOOLS!)
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To: sergeantdave
Good grief, they just can't stop themselves.
6 posted on 01/12/2012 9:34:46 PM PST by MaxMax
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To: artichokegrower

Actually good news in a way. Jerry Brown is not squandering the half billion on greenie schemes. He is using it to close the deficit.

7 posted on 01/12/2012 10:20:57 PM PST by dennisw (A nation of sheep breeds a government of Democrat wolves!)
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To: Tolerance Sucks Rocks

Time for Democrats to spring their trap on environmentalists yet? Could be.....

8 posted on 01/12/2012 10:32:44 PM PST by dila813
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To: artichokegrower

We need the money to support programs for illegal aliens, and benefits for public sector unions. We don’t much believe in that green energy nonsense anyway. People vote, molecules don’t.

9 posted on 01/13/2012 12:40:44 AM PST by Rocky (REPEAL IT!)
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To: Rocky

Or Americans vote, not lazy jerks on some South Pacific island looking for a handout.

10 posted on 01/13/2012 3:51:18 AM PST by palmer (Before reading this post, please send me $2.50)
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