Cap-and-Trade Program Auction a Flop

Tuesday, August 23, 2016

The California Air Resources Board (CARB) held the eighth auction of greenhouse gas allowances on August 16, 2016. Today, CARB released the results. Senate Republican Caucus Chair - Senator Jim Nielsen (R-Gerber) – issued the following statement:

“Of the 96 million credits available for sale by CARB, only 31 million were sold – a mere $8.4 million to the state treasury.

“The cap-and-trade program is a failure – a flop.

“We must end it. When SB 32 comes up in the Senate in the next week, we should reject this failed experiment that is adversely impacting Californians especially those who can least afford it.”

Brown's climate bill SB32 not ready for prime time as it appeared in the San Francisco Chronicle: