[California] this week begins auctioning off greenhouse gas emission credits, thereby generating billions of dollars that politicians will spend on programs supposedly connected to reducing global warming.
Let’s take another run at that: “…thereby generating billions of dollars from the citizenry of CA that politicians will spend
on programs supposedly connected to reducing global warming on any damnfool crap that pays them well.”
Mary Nichols, who chairs the Air Resources Board, and other advocates of cap and trade contend that in the long run, the business costs will be mitigated by savings from greater operational efficiencies, and that an entirely new green economy base will be created to the ultimate benefit of the state.
And an equally valid theory is that the state, which is already suffering from a stagnant economy and very high unemployment, will hamstring itself in the global competition for investment capital.
Nichols, et al., even have a phrase that describes the potential economic downside – “leakage.”
That means the 40% unemployment spreads from Modesto outward like a fungus.
This is Prog Social Engineering at its finest. Hilarious because they’re attempting to use a Free Market model for, well, what amounts to selling unicorn farts.
Last ghasp of sense:
[The CA Chamber of Commerce] said in a complaint filed yesterday in state court… that the California Air Resources Board lacks authority to auction carbon allowances, which it alleges is a paramount to an invalid tax or unconstitutional fee that would cost taxpayers $70 billion.
I bet they’re gonna change that Free Market model right soon…
Prices based on allowances for 2013 have tumbled more than $6 a metric ton since the beginning of August as legal threats, political opposition and rule changes plague the days leading up to the first sale of permits.
California’s budget counts on $500 million in the current fiscal year from cap-and-trade revenue.
That oughta work out just as well as Old Unkle Jerry counting on the billions and billions coming from that Facebook thing!
Spain mirrors our future as CA mirrors our nation’s future:
Morons wandering with bags on their heads to “protest” the lack of an economy.
Thaaat ought work…