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  Topic: First cap-and-trade auction
a bust for California budget
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First cap-and-trade auction
a bust for California budget

Sacramento Bee [CA], by Kevin Yamamura

Original Article

Posted By:NorthernDog, 11/23/2012 2:06:03 PM

SACRAMENTO, Calif. — California environmental leaders this week hailed the state´s first auction of carbon emissions credits a huge success. But budget writers are hardly thrilled. A low price for credits and minimal demand for future offsets suggest California will see a mere fraction of the $1 billion that Gov. Jerry Brown and lawmakers estimated the state would receive this fiscal year. If demand remains similar in two forthcoming auctions, the state would generate only about $140 million, the nonpartisan Legislative Analyst´s Office estimated Wednesday. That would strain the $91 billion state budget

Comments:
Imagine that - Dems grossly overestimated revenue from new scheme.

      


Post Reply  

Reply 1 - Posted by: antiquegolf, 11/23/2012 2:43:12 PM     (No. 9030819)

Although the auction flopped it still made liberals feel really good.

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Reply 2 - Posted by: Keekng, 11/23/2012 2:49:36 PM     (No. 9030829)

As I have said many times......The last time Moonbeam was governor he darned near bankrupted the state, this time he has a complicite legistlature and a head start!

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Reply 3 - Posted by: LadyHen, 11/23/2012 3:22:04 PM     (No. 9030867)

14% of expected returns achieved and THAT is hailed as a huge success?? Well aren´t they just a jolly clueless bunch.

Only 140 million... but they have already spent all that 1 billion they projected would be available. Talk about counting chickens before they hatch. Whatever will they do? /roll eyes


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Reply 4 - Posted by: ArthurDent, 11/23/2012 3:43:47 PM     (No. 9030885)

Sadly, what they will do is prevail upon the pResident to bail them out with money from all the little red states in flyover country. We don´t have enough votes to keep them from doing it.

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Reply 5 - Posted by: zephyrgirl, 11/23/2012 4:09:43 PM     (No. 9030916)

What did they expect when they drove most of the manufacturing out of the state?

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Reply 6 - Posted by: KTWO, 11/23/2012 4:09:45 PM     (No. 9030917)

In CA dogma trumps fact. If they say it was a success then it was a success.

And it will always be a success.



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Reply 7 - Posted by: billp, 11/23/2012 4:09:49 PM     (No. 9030919)

So obviously, this whole ´cap and trade´ business and ´global warming´ was meant all along to just be an additional revenue stream for the state. Glad it flopped - politicians lying to get more power and money out of the people. Who knew!

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Reply 8 - Posted by: veritas, 11/23/2012 4:38:28 PM     (No. 9030940)

If we ever find an important use for morons, the good news is that we´ll never run out of them!

And what in the wide, wide world of sports was Ronstadt thinking back when?

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Reply 9 - Posted by: uno, 11/23/2012 6:10:36 PM     (No. 9031024)

Would it be fair to say they´re tryin to "bust a cap in trade?"

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Reply 10 - Posted by: distorted, 11/23/2012 6:29:21 PM     (No. 9031039)

$140M of speculator and nitwit money. Way too much.

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Reply 11 - Posted by: hamrman, 11/23/2012 10:13:21 PM     (No. 9031211)

How can you call it a success? It has absolutely NO VALUE, quit fooling yourselves!

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