Calif. cap-and-trade a global issue

Friday, November 16, 2012
 | 
Becky Yeh - California correspondent (OneNewsNow.com)

Though one energy policy analyst is sure that California's cap-and-trade system will have no impact on global temperatures, it will raise energy prices on those who can "least afford to pay it."

The California Air Resources Board has begun a private online auction of "pollution allowances," kicking off what is said to be the second largest carbon market in the world. The Golden State's cap-and-trade system is a provision of a global warming law passed in 2006 that seeks to cut emissions of greenhouse gases.

Borelli, Tom (FreedomWorks)"For the citizens of California, it's going to be all pain and no gain," warns Tom Borelli of The National Center for Public Policy Research's Free Enterprise Project.

"Eighty-five percent of our economy runs on fossil fuels, and this cap-and-trade plan is going to raise energy prices. That's going to have an immediate impact, harming those who could least afford to pay it. Higher energy prices harm those with fixed incomes and those with low incomes." 

The state's program mandates companies that release more emissions to buy credits from industries that pollute less. The Board plans to release auction information, including the number of companies that participated and the price for one ton of carbon.

"It's a global issue," Borelli contends. "The California plan is going to have no impact on global temperatures."

Shortly before the auction occurred, the California Chamber of Commerce filed a lawsuit alleging that the state's cap-and-trade system is an illegal tax. The lawsuit sought to block the auction from taking place.

Consider Supporting Us?

The staff at Onenewsnow.com strives daily to bring you news from a biblical perspective. If you benefit from this platform and want others to know about it please consider a generous gift today.

MAKE A DONATION

Comments

We moderate all reader comments, usually within 24 hours of posting (longer on weekends). Please limit your comment to 300 words or less and ensure it addresses the article - NOT another reader's comments. Comments that contain a link (URL), an inordinate number of words in ALL CAPS, rude remarks directed at other readers, or profanity/vulgarity will not be approved. More details

SIGN UP FOR OUR DAILY NEWSBRIEF

SUBSCRIBE

VOTE IN OUR POLL

After unveiling the slogan 'A Better Deal,' the most appropriate motto for the Democratic Party is…

CAST YOUR VOTE

GET PUSH NOTIFICATIONS

SUBSCRIBE

LATEST AP HEADLINES

Justice Dept. rules intensify crackdown on sanctuary cities
Trump cranks up heat on Sessions, says time will tell fate
Senate opens 'Obamacare' debate at last but outcome in doubt
Top Vatican official faces Australian court on sex charges
Ohio set to end 3-year hiatus with execution of child killer
Trump praises Senate for taking up health care
McCain returns to Senate, then gives impassioned speech
Trump says he's "very disappointed" in Sessions

LATEST FROM THE WEB

Senate blocks proposal to repeal and replace ObamaCare
Jimmy Carter: U.S. will have single-payer healthcare system eventually
Crazy talk: Psychs crack up over 'psychotic,' 'paranoid' Trump
'I never felt qualified' to preach, Perry Noble tells NewSpring leaders who declared Him biblically unfit
The truth about Southern black slave owners

CARTOON OF THE DAY

Cartoon of the Day

REASON & COMPANY

NEXT STORY
Hospitals will see massive layoffs, decline in 2013

Hospitals are expected to cut some 93,000 jobs in 2013 in anticipation of ObamaCare. A former presidential candidate and conservative advocate says America needs to prepare for major changes in the medical industry.