California’s Cap and Trade Runs Out of Emissions….and Money for Pet Political Projects

Be careful what you wish for. You might get it” said the proverbial Aesop (260 B.C.) in one of his ancient Greek fables.  Something like this is playing out with the California Legislature that is getting just what it said it wanted when it passed the Global Warming Solutions Act of 2006 in Assembly Bill 32, which created the state’s Cap and Trade Program to reduce greenhouse gas emissions (GHG’s) from polluting industries. But lawmakers are just now learning that if you run out of emissions, you run out of revenues. Read more