Dem. Lawmakers Worry California’s Cap-and-Trade Expansion Will Drive Up Gas Prices

Dem. Lawmakers Worry California’s Cap-and-Trade Expansion Will Drive Up Gas Prices

A group of California Democrats is having second thoughts about the state’s expanding cap-and-trade program, urging Gov. Jerry Brown’s administration to rethink the plan out of concern that it will drive up gas prices and hurt low-income residents.

The Golden State already has the program in place — which caps greenhouse gas emissions and requires companies to buy permits in order to breach those caps — but right now it only applies to power plants and other heavy manufacturers. Next year, California is set to expand the regulations to transportation fuels.

Sixteen state Democratic lawmakers wrote a letter to the head of the California Air Resources Board earlier this month warning this could trigger a cost increase of roughly 15 cents per gallon of gasoline.

http://www.foxnews.com/politics/2014/06/30/dems-worry-californias-cap-and-trade-expansion-will-drive-up-gas-prices/

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