Subject: txt cali grn engry -
California has a new global warming law with no real name, just this: AB32. Last month, the California Air Resource Board (CARB) proclaimed in a report that AB32 would grow 10,000 jobs. That is true only if you also repeal basic market economics and the state's current business indicators, says the Wall Street Journal.
- AB32 creates a statewide cap and trade program and imposes numerous command-and-control mandates that CARB calls "complementary measures" on businesses, such as low-carbon fuel standards and a goal of achieving 33 percent energy from renewable sources by 2020.
- Companies say compliance costs will force them to cut jobs and raise prices.
The Economic Impacts Subcommittee of the Economic and Allocation Advisory Committee concludes,
"...the technologies that would be adopted under AB32 are either yet to be developed or prohibitively expensive."
So how does CARB manage to make cost predictions about technologies that do not even exist? With a lot of assumptions, says the Journal...[snip]
While almost all of AB32's benefits are speculative and uncertain, its costs are hitting businesses and residents now. This is one more blow to jobs and growth that California does not need...
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