Pirate's Cove

Is anyone surprised? Climate Realists have long said that one of the purposes in pushing “climate change” is to put more money in government hands. California is exposing that agenda (Tom Nelson)

And you thought the California Global Warming Solutions Act (AB32) was all about limiting greenhouse gas emissions, didn’t you? Think again.

There is a brewing fight in Sacramento over how to spend the gold expected to start pouring in when the Golden State starts its carbon cap and trade program. The original intent of AB32 was to use the proceeds from the carbon permit auctions to invest in technologies and programs that reduce greenhouse gas emissions. Makes sense, right? (Snip)

California’s mega-millions winning ticket is Governor Brown’s 2012-2013 State Budget proposal to take 80% of the carbon tax revenue or about $500 million per year to reduce the budget deficit for the coming two years. The quarterly carbon credit auctions are expected to produce $660 million to $3 billion per year. The Governor’s budget assumes California will net $1 billion from such auctions to start. The $500 million of revenue take assumed in the first year proposed budget will be used to offset existing General Fund costs for current emissions regulation activities, and the remaining revenues will be used on new programs to reduce emissions.

So the Democrat governor is going to take the money raised by skyrocketing the cost of the citizens energy and goods to fix the idiotic spending hole the Democrat led government of California has dug itself instead of on “solving globull warming” and reducing GHGs. Realists have been saying for a long time that so much of the AGW legislation will create a slush fund for government spending. But, hey, who cares if the unemployment rate skyrockets because companies abandon CA.?