Related Article: Brown Signs $900M Cap-and-Trade Spending Bill
Cap and Trade Auction DOWN 98% in August—Brown Continues Failure
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September 14, 2016 By
Failure means nothing to the really confused Guv Brown. The cap and trader auction collected only 2% of what was expected—but Brown spent 100% of the money he thought he would have. This is how government and taxpayers get into trouble. Democrats spend before they have the money. High Speed Rail has signed billions in contracts with no money to pay for them. In the end Jerry Brown will try to take $200 billion from the people so he can have a legacy—it is collapsing.“Poor results at recent state cap-and-trade auctions contributed to the conservative $900 million included in Assembly Bill 1613. Brown and the Democrats hoped to have billions of cap-and-trade dollars to spend, but the auction in August fell 98 percent short of expectations.
California businesses have shied away from buying carbon tax permits at recent auctions because of the uncertainty surrounding the state’s cap-and-trade program, which sunsets in 2020.
Major transportation projects like the ambitious high-speed rail project — and the state’s reserves — depend on cap-and-trade funding. If cap-and-trade revenues continue to dwindle or possibly disappear, the beleaguered rail project could be put on hold.”
Finance folks are refusing to buy a “credit” for something that does not exist—it is a scam developed by Al Gore, the chief scammaster how has made tens of millions of dollars by scaring people with his fantasies.
Stephen Frank: Is the the publisher and editor of the California Political News and Views. Mr. Frank speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows and is a full time political consultant. http://capoliticalnews.com/
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democrats seem to always find a way of fleecing the flock. They will create a crisis in order to force the taxpayer into submission; much like the push for solar panels and water extortion will force us into adjusting to the new normal of unnecesary higher costs.