Friday, December 07, 2012

Jerry Brown: The White Barack Obama?

Maybe, but somehow even dumber than his brother from another mother - if such a thing is possible:

Earlier this year, Gov. Jerry Brown claimed cap-and-trade would pay for his beloved $68 billion bullet train, which is behind schedule and about $60 billion short of funds.

“We do have other sources of money” for high-speed rail, the governor assured an interviewer in January. “For example, cap-and-trade . . . will be a source of funding going forward for the high-speed rail.”

So how's that working out?

The Golden State’s new carbon-trading program is the world’s second largest, after the European Union’s. The stated goal is to cut greenhouse-gas emissions to 1990 levels by 2020 and another 80 percent by 2050.

But California held its very first “carbon credit” auction last month — and it was a big disappointment.

Turns out, state budgeteers had assumed the fisc would balloon with $1 billion in new cap-and-trade revenue in the program’s first year alone. Half of the money would go toward various state initiatives to cut greenhouse gases, and the rest would help balance the state’s perpetually off-kilter budget.

Lawmakers had such high hopes for that cash. So high, in fact, that the money’s already spent.

Now we learn California will likely take in just $191 million, the legislative analyst says. The state already faced a deficit in June, but the disappointing carbon-credit sales mean it will be much larger — $1.9 billion and counting.

Paging Barack Obama:

It’s time to end the taxpayer giveaways to an industry that rarely has been more profitable, and double-down on a clean energy industry that never has been more promising. Pass clean energy tax credits. Create these jobs.

No doubt those jobs will materialize - as surely as Jerry Brown saw his "clean energy" initiative plug the funding chasm in the Cali budget...

Once again, "California is leading to nation" - but it seems as if fearful lawmakers - including our president - are afraid to tell us exactly where.

I did, just a few hours ago...

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