EL CENTRO – The Southwest Republican Women Federation of Imperial Valley held a Concerned Citizens forum Tuesday evening at the Desert Trails RV Trailer park in El Centro in an effort to educate the community on the issues that it is facing in the upcoming year.
The main objective of this presentation was to educate the public on the subject that is known as Cap and Trade. Guest speaker Warren Duffy, president of CFACTSoCal, So Cal and Friends for Saving California Jobs, explained the fundamentals of the issue as well as how it affects the public as a whole.
Cap and Trade is the business of taxing companies who have excess air pollution. It is meant to be a green way to protect the environment from greenhouse gases and to roll back pollution levels back to the year 1990 by 2020. There will be a set limit on how much a company is allowed to pollute the air. If it exceeds that limit, the company will have to pay for that excess and the money will go to the California budget. The amount anticipated for the first auction is one billion dollars.
It is not a new concept either. In 1997, at the Earth Summit in Kyoto, Japan, a plan was set to roll that included a tax on global billionaires, cap and trade, and an overnight banking tax that is currently in a effect in all European countries. The Kyoto Treaty also lists five of what it considers the world’s most dangerous air pollutants that includes carbon dioxide, methane, and nitrous oxide.
Cap and Trade is part of that policy, known as Agenda 21, and is what the new California policy includes. However when a company wants to go over their limit of pollution, they have the option of buying slips that are used to pardon the excess.
Duffy also mentioned how this will affect the county as well as the state. Duffy stated that taxes would not only shoot up at the pump like it has been for the past year, but also dairy products, construction companies, and even wine companies, to name a few. Each will require the credits in order to stay open and functioning, and cause taxes to rise on each of these products.
Cap and Trade has not been in the news either. It has been in the dark for the past year in California, but the state will be having the first official Carbon Credit auction on November 14, 2012. The starting bid at $100 will likely escalate to higher prices.
“The more you pick at the scab, you’ll find the bloody mess beneath,” said Duffy when listing all of the problems that the policy would cause for California’s already troubled economy.
The Friends for Saving California Jobs does plan to sue Sacramento for keeping the residents of California in the dark about this new policy.