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.

16 comments

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  1. Ulysses Uhaul
    Ulysses Uhaul 28 August, 2012, 08:24

    I wonder if there are food trucks, clowns, usual groupies and dutiful boot lickers and blood leeches at this momentous mockery auction!

    Reply this comment
  2. Tom Tanton
    Tom Tanton 28 August, 2012, 08:26

    Let’s see, seventeen dems plus (all) reeps equals how many…? The dems should be especially concerned with the extremely regressive nature of this ‘tax.’ Maybe this also explains why CARB has postponed the ‘real’ auction util after the election. Oh, and the model European system? Major portion of TGHAT ws remanded by U.N. for reconsideration…California is always proud (rightly so) in being the ‘first’ in many categories, but why are we last in giving up on this silly suicide-pact?

    Reply this comment
  3. I'mjustsayin'...
    I'mjustsayin'... 28 August, 2012, 08:32

    those 17 Dems deserve applause for understanding they are elected to ‘do the people’s work’ which includes the fiduciary duty of overseeing and not not causing further damage to California’s already fragile economy. If we can reach the GHG reduction goals of AB 32 with a much smaller auction that will help protect our economy, why wouldn’t we?

    Reply this comment
  4. Paul
    Paul 28 August, 2012, 09:48

    The democrats are foolish in every way they lead California! It’s a wonder they believe their own garbage and they alone have put California in the position it’s in now “bankrupt”! If they continue the path they are walking down we Californian’s will be in big trouble than we are now. Cap and trade is a joke and will ruin this state and great NATION as we all know it. Gov. Brown the clown was bad the first time and shouldn’t have gotten a second time…Plain and simple

    Reply this comment
  5. us citizen
    us citizen 28 August, 2012, 11:17

    Another one of this state’s insane ideas. How do they even think this crap up.

    Reply this comment
  6. ExPFCWintergreen
    ExPFCWintergreen 28 August, 2012, 11:28

    fix your broken links

    Reply this comment
  7. Ulysses Uhaul
    Ulysses Uhaul 28 August, 2012, 11:38

    It is easy to think up…..no one challenges them…who is the Republican credible spokeman…..Carly? Meg? Mondo?

    Republicans are a flaming joke!

    Reply this comment
  8. Tax Target
    Tax Target 28 August, 2012, 11:53

    Push Granny off the cliff??? Pshaw… The Kalifornsky legislature along with the CARB buffoons are pushing the entire State off the cliff. God help us.

    do you want a revolution? well…… just sayin

    Reply this comment
  9. Queeg
    Queeg 28 August, 2012, 13:35

    No one has the guts for revolution, for their mouths are stuffed with processed carbs making them placid and accepting of their peon status.

    Reply this comment
  10. PJ
    PJ 28 August, 2012, 13:43

    Do we get to “pretend” write a bigger check to pay for our electricity and gas?

    Reply this comment
  11. Paul
    Paul 28 August, 2012, 14:09

    I guess these liberal idiots like being the laughing stock of the country & world but they wont be laughing when they find out it’s all a fraud and are being taken to the cleaners and being robbed blind.

    Reply this comment
  12. GM
    GM 28 August, 2012, 14:59

    Why will cap & trade result in higher energy costs and job losses?

    Reply this comment
  13. CalWatchdog
    CalWatchdog Author 28 August, 2012, 16:09

    CARB plans to hold auctions between cap and trade participants to determine the price of the permits for “pollution credits.” Businesses and utilities will have to purchase permits equal to every ton of greenhouse gas emissions they generate.

    In practice, these auction costs on businesses and agencies will function much like a direct tax, because in order to operate, they will be required to purchase these permits.

    Katy

    Reply this comment
  14. Hank
    Hank 28 August, 2012, 19:17

    My question is who are these 17 democrats and why are they concerned now? There have been many opportunities for them to be helpful before, why now. Forgive my suspicion but I cannot help but think there may be a hidden agenda for their tardy concern. I welcome their support if genuine, but I think more than a late CYA letter is required. Tell us more.

    Reply this comment
  15. Queeg
    Queeg 28 August, 2012, 22:43

    Sharpen your hooves…your going off the cliff…maybe you can hang on…on the way down!

    Reply this comment
  16. Tom Tanton
    Tom Tanton 29 August, 2012, 04:29

    There is a valid analytic approach called “experimental economics” that would have been useful for the “pretend” auction, but CARB decided a dog and pony show more appropriate. Another failed lesson from 2000 electricity ‘crisis.’

    Reply this comment

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