Cap and trade “pretend” media auction today

Aug. 28, 2012

Katy Grimes: The California Air Resources Board is holding a webinar for credentialed
media today “to familiarize them with the mechanics and purpose of the cap-and-trade practice auction.” It’s a media show and should be interesting.

The “practice auction” will be held August 30.

But this comes on the heels of a letter to Gov. Jerry Brown, signed by 17 Assembly Democrats, imploring Brown to reconsider allowing CARB to proceed with cap and trade program as the agency is planning, given the very weak economic conditions in the state.

The Assembly members said that they have investigated the development of the cap and trade program, and have concerns with the way CARB is going about implementing AB 32, California’s Global Warming Solutions Act.

The Assembly members said that the increased costs businesses will be forced to pay to the state for carbon credits will result in job losses and increased energy costs. “Our constituents have grown increasingly concerned of the impacts that the proposed auction under cap and trade will have on jobs, consumers and the economy.”

I will report back after the media auction later today. These 17 Democrats are right to be concerned, and went out on a limb by writing this letter.