Auction of carbon credits is not free money

Published: Friday, May. 24, 2013 - 11:05 am
Last Modified: Friday, May. 24, 2013 - 11:49 am

Re "Carbon auction price rises" (Business, May 22): The Bee portrays the $280 million in cap and trade income to the state as somehow free money falling into the laps of the politicians to spend however they want.

It's not free money. This $280 million is coming out of businesses, companies, schools and local government budgets throughout California. It means lost jobs and higher costs to consumers in higher energy bills, utility bills and prices for many products we use every day. It means higher energy costs for schools and colleges, courts and virtually every public building that uses energy.

The cap-and-trade auctions are nothing more than a hidden tax which the politicians called a fee so they could enact it without the required two-thirds majority vote for new taxes. California families are paying more out of pocket every day because of it. -- Ken Payne, Roseville

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