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Fox News and Valero explain California's potential cap and trade costs

Posted by Gino DiCaro, VP, Communications on Dec. 10, 2009

This week, Fox News tried to explain what California cap-and-trade costs might look like in an attempt to predict what a national program would cost.  Valero energy indicated that California's program would force them to pay $7 billion annually -- an amount they simply can't absorb and must pass on to consumers.

CARB Chairwoman is also on record in the Fox News piece saying that "we expect there will either be a modest cost or a savings".  This just weeks after CARB's own cap and trade proposal conservatively predicted $143 billion in costs by 2020.





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