Highlights of proposed amendments to the Cap-and-Trade Bill. These highlights bring out the real reason for this bill – redistribution of wealth that directs money to advance the progressive agenda.
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This bill requires large polluters to purchase permits for their greenhouse gas emissions with availability of permits declining over time, leading to a reduction in emissions. The money raised from permits would be spent on projects to promote clean energy. Repeals the Carbon Dioxide Emissions Standards.
Personal Choice and Responsibility
Seeks to get carbon levels down to 80% of Oregon’s 1990 emission level by 2050, hoping to slowly ease into the added cost. Among other rising costs, fuel prices will increase by 30 cents to 50 cents per gallon. For all that pain it would only mean reducing global CO2 emissions by less than a quarter of one percent, meaning we will still suffer all the harms of climate change anyway, and we will simply have impoverished ourselves in the attempt. Overrides consumer protection that PUC was designed to provide.
From the cost of mining aggregates and manufacturing concrete and asphalt, to its delivery and placement, the ripple effect will be significant. As an example, the Oregon Department of Transportation’s construction budget is about $1 billion a year. Oregon AAA expressed concern over an immediate 16-cent per gallon increase in gas, following a 10-cent per gallon increase imposed by the 2017 transportation funding package. The current average price for a gallon of regular in Oregon is $3.05, adding 16 cents would bring the average to $3.21, which would make Oregon the third most expensive state in the country, behind Hawaii and California.
Oregon’s sector-based emissions are 10% above 1990 levels of 56 million metric tons. Changes the goals to reduce greenhouse gas emissions to at least 45 percent below 1990 emissions levels by 2035 and to at least 80 percent below 1990 emissions levels by 2050, which is a zero impact on climate change. The amount of carbon Oregon would be allowed to emit in 2050 is 11.2 metric tons. According to the U.S. Environmental Protection Agency (EPA), Oregon produced almost 38 million metric tons of carbon emissions from the use of fossil fuels, which ranks the state at 38th among the 50 states and the District of Columbia. That’s already 32% below 1990 levels. Oregon makes up well under 1 percent of the U.S. output. Firms that exceed the cap will trade credits with companies that are under the cap in order to avoid fines from the state – whereby spreading the emissions but not reducing them.
Some moneys will go to rural projects in an attempt to get some bi-partisan votes to boost the sale of the bill. However, the Association of Oregon Counties report that increases of up to 25% for steel and iron could prevent counties from replacing bridges where over 95% are rated as structurally deficient.
This is anti-free market and displays the highest level of control over manufacturing and distribution of goods. Ash Grove Cement, near Durkee, will possibly close being less competitive against Chinese cement makers.