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