Challengers Double Down on Opposition to California's Carbon Allowance Auctions
A second lawsuit has been filed challenging one of the centerpieces of California's innovative cap-and-trade climate change regulatory program: the auction process implemented by the California Air Resources Board to distribute carbon emission allowances.
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#1 Apr 26, 2013
So far, CARB has held two auctions, which have generated a total of approximately half of a billion dollars in revenue.3 Under state bills signed into law in 2012, auction revenue is allocated to a “Greenhouse Gas Reduction Fund,” but a portion of it may also be used for general fund expenditures. The California Legislative Analyst’s Office has estimated that allowance auctions will generate $1 billion to $14 billion per year, and up to $75 billion in total by 2020. CARB has recently begun deliberations on
"how to spend the revenue from the first auctions".
There you have more tax dollars extracted from the real tax payers and they don't have a clue where to spend the tax dollars they collect from the real tax payers. Maybe they should buy a new brown paper bag the one they use now is giving them a terrible time to govern out of.
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