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California lawmakers are scrambling to finalize a last-minute deal that would extend the state’s landmark greenhouse gas reduction program – known as cap and trade – through 2045.
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At the center of this year’s reauthorization fight are a number of controversial concessions that former Gov. Jerry Brown gave to various industries – including oil and gas – when the Legislature last renewed the program in 2017. Those include giveaways that allow fossil fuel companies and others to emit greenhouse gases free of charge, as well as permission for some market participants to purchase questionably effective carbon offsets to meet emissions targets.
To the chagrin of environmental advocates, Gov. Gavin Newsom earlier this summer proposed reupping the program as-is, an early sign of his blossoming friendliness with the fuel industry as he eyes a presidential bid in 2028.
The twist? There’s no bill. And even if the text of legislation comes out by the Wednesday deadline to introduce it, opponents argue that such a critical policy should not be rushed through at the last minute.
“We are in the last week of session, and no one has seen the language of what a program would look like,” read a pamphlet that lobbyists from the business community were circulating to members in the Capitol Monday. “Rushing a bad deal to determine the next 20 years of climate policy is the wrong approach.”
Even some environmental advocates who want to see the program renewed have griped about the opacity of the negotiations, which have primarily unfolded behind closed doors. While the Assembly has circulated draft language that closely resembles Newsom’s proposal, the Senate has kept its language under lock and key. According to two people familiar with the negotiations, Senate President Pro Tem’s Mike McGuire’s staff has only allowed members to view the proposed legislative text in person and prohibited them from bringing copies – printed, digital or photos – back to their staff.
Environmental justice advocates have long criticized the cap-and-trade program for failing to reduce pollution at refineries and other industrial sources, which are often located in low-income and minority communities. Because cap and trade allows companies to comply with greenhouse gas limits by buying credits, large polluters can continue operating in low-income neighborhoods without improving air quality or reducing emissions
Proponents of swift reauthorization say the carbon market needs certainty that the program will continue to exist in order to keep pulling in revenues. Over the past 11 years, almost $13 billion from cap-and-trade auctions has paid for electric vehicles, public transit, clean energy and other projects to reduce greenhouse gases and adapt to climate change.
One could only hope the Cap & Steal will be ended.
Just as e-cars are not paying their fair share for road maintenance by not paying into road repair for additional tax on the kw hour charges.
Il Douche aka Slick Newsom has proven he does not care about fairness. He does not care that the e-cars weigh more than the average car, and often exceed the weight of a contractors pick-up truck. He walk away from the facts that these same e-cars are producing more carbon pollution than the modern gasoline car because of the wear on the much wider tires (yep rubber carbon)
C&T was nothing more then legalized theft by the Radical Socialist Party (aka – Dem). Even for its backers it has proven not to come close to it projected outcomes.
The RSP wants it so it will have money slush funds for their destruction of the individual auto (regardless of how it is fueled).
Still voting RSP (Democrat party)?
Why?