Thursday, December 20, 2012

California utilities are benefiting from cap-and-trade program

Foregoing Cap n trade for utilities isn't much of a help for the consumers in CA. CA ranks 31st in the nation for electic power rates (Hawaii have the highest and is ranked 50). And the article didn't say the power companies would NEVER have to pay the piper for cap n trade credits.

 Conveniently, the article did NOT mention about the looming rise of the price of gasoline in California. There will be the indirect passing on to consumers of cap n trade costs as refineries are hit extremely hard by cap n trade. It's just a matter of time before this scheme crushes California. Read the Chevron 3rd quarter transcripts and their comments on what cap n trade will do to them and that they will have to pass the costs on to CA residents. They are not happy with what is being done since many of then live in CA and have to put up with the same crap as everyone else there.
"The program was not meant to put people out of business or put families in jeopardy," said Tim O'Connor, director of the California climate initiative at the Environmental Defense Fund. "(The cost) can't be too high or you quickly lose the public."
Don't believe them.  The whole IDEA is to stanch CO2 which means one of two things:

1) Prices for EVERYTHING go up.  
2) Indusrty moves out in search of cheaper resources.

Take your pick.

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