Posts Tagged: proceeds
OPINION: We’ve all heard the clichés and stories about the failings of the political system – the bill that was written on the back of a cocktail napkin; the enormous proposal that was jammed through before anyone could read it; trading votes in shady, backroom deals.
OPINION: When the California Air Resources Board released the results of its May auction of carbon allowances, audible gasps from around the state could be heard from the space station. I kid – but only just a little. The auction results did in fact create a great shock: many had expected at least half a billion dollars to be collected at the quarterly auction, but the auction generated only about ten million dollars. But here’s the truth: The super-low May auction result should actually help the State’s legal defense of cap-and-trade.
OPINION: We generally think it a big success when public policy successfully fixes a serious problem. Right now, smart California policies are effectively tackling three major issues at once: housing, traffic, and climate change. Anyone not living under a rock knows that California faces an unprecedented crisis in housing affordability.
Hundreds of millions of dollars from California’s auctions of carbon emission credits are being tapped to help finance the $68 billion bullet train project. In subsequent years, a fourth of the auction money will go to the train. The budget requires the governor’s signature to take effect.
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