California’s Cap-And-Trade Auction Complete
Picture it: the heads of some of California’s 300 biggest companies, gathered around thier computers, bidding e-bay style, on how much they are willing to pay to pollute.
It takes only 100 gallons of gas to make a ton of carbon dioxide- a ton of greenhouse gasses. Companies won’t have to pay for all the emissions the make, only 10%.
So they have a choice- pay a premium for that 10%, or reduce carbon dioxide by 10%.
“The facilities that are covered are based on the fact that they release more than 25-thousand tons of carbon dioxide a year,” said David Clegern of the California Environmental Protection Agency.
And if they don’t bring that number down? Then What? Dire predictions of disaster. See also “The Day After Tomorrow,” 20 Century Fox’s eco-calamity movie wherein Manhattan floods, the Statue of Libery freezes, and destruction is rampant.
But wait a minute. There are people who still don’t believe the whole global warming thing anyway. What about that?
“Well, that’s not an arguement here,” said Clegern.
The State will use the money generated on the carbon credit auction for environmental programs- think something in the neighborhood of a billion dollars.
And within a few years the program will expend to cover the gas you put in the tank of car. Clegern says advances in efficiancy should off-set any price increase there, but other experts are predicting between a dime and a quarter increase in the price at the pump.