Pirate's Cove

The Democrats who run the state government in Oregon are hell bent on passing a carbon tax. Why? Most likely not because they Believe, but, because they want new revenue streams. Voters turned down a corporate tax measure in 2016, and the Leftists have been looking for some other way to hit companies up. So, how would it work

(Spokesman) Oregon lawmakers are considering a major change in how the state will go about reducing its contributions to climate change.

Right now, there’s nothing to stop a lot of Oregon businesses from pumping carbon dioxide into the atmosphere.

The Clean Energy Jobs Bill introduced last week would launch a cap and trade system that would limit some of those emissions and charge businesses for the right to pollute.

The system would be similar to existing programs in California and some Canadian provinces.

How would Oregon’s cap and trade system work?

The state would set a cap on total greenhouse emissions, and about 100 companies in the state’s largest industries would be required to buy pollution permits to cover their emissions.

The bill requires permits for any business that emits more than 25,000 metric tons of carbon dioxide equivalent. That includes a variety of large manufacturers, paper mills, fuel distributors and utilities.

Over time, the cap on emissions will come down and there will be fewer pollution permits available. So companies will have to reduce their emissions, spend more on permits or buy credits to offset their emissions.

And what will they do with the money?

Creators of the bill call it a “cap and invest” program because the state could make an estimated $700 million a year from selling pollution permits. That money would then be invested in project that expand public transit, solar power, electric vehicles and home energy efficiency upgrades that will help reduce the state’s overall greenhouse gas emissions.

So, how will it work in the real world? Well, the price of energy will go up. The cost of goods will go up. Companies will leave the state. Jobs will leave. Oregon Governor Kate Brown supposedly is requiring that any bill passed has to protect poor people from these price hikes. Well, this hasn’t worked any place it’s been tried, but, hey, they’ll give it another shot. And we’ll watch the resulting fallout.