Posted on 03/02/2017 1:28:11 PM PST by Oldeconomybuyer
Februarys quarterly auction of carbon dioxide emission allowances under Californias cap and trade program was another financial washout for the state.
Results for last weeks auction were posted Wednesday morning, revealing that just 16.5 percent of the 74.8 million metric tons of emission allowances were sold at the floor price of $13.57 per ton.
The paltry auction revenues will likely stall Gov. Jerry Browns 2017-18 budget plan to spend $2.2 billion on a variety of climate-related programs and projects, including $800 million on his bullet train project.
(Excerpt) Read more at sacbee.com ...
Yeah 500 tons of empty train at 200 mph going back and forth all day is good for the environment doncha know. Better paint it green...
Well they did reach 1.3% of the goal. We call that a limited success in California.
That would be something like an “incomplete recovery,” where the operation was completed successfully, but the patient died anyway, I guess. ;-)
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