Covering the California Air Resources Board and the distribution of emission allowances to industry in the cap-and-trade program it administers, CALmatters referenced analysis by Near Zero’s Danny Cullenward:
Earlier in the day, Wieckowski had opened a hearing considering how to divvy up billions of dollars collected from the state’s allowance auctions by going somewhat off script, saying he was displeased about the air board’s actions.
He then peppered air board staff with questions during the proceedings, asking if the agency could confirm that changing the assistance factors could result in a $300 million boon to industry. The staffer said he did not have that information. Young, the air board spokesman, said Friday that the board was working to get the senator the financial analysis he requested.
The $300 million estimate came from calculations by economist Danny Cullenward at Near Zero, a climate policy think tank at the Carnegie Institution. He concluded that oil refineries alone would reap that much over three years if the board kept the maximum allowances.
Read the full article, “Key senator vows to block climate deal that would aid polluters,” by Julie Cart, on the CALmatters website.