Manufacturers support lawsuit against cap-and-trade auction
Nov. 13, 2012 Sacramento, CA -- The California Chamber of Commerce filed suit today against the California Air Resources Board and its plan to withhold carbon allowances for the purposes of generating revenue for the state. California Manufacturers & Technology Association President, Jack Stewart, said the following in support of the Chamber's lawsuit:
"Assembly Bill 32 explicitly prohibited CARB from raising revenue beyond the administrative costs of the program. There is a distinct difference between a good cap and trade program that helps reduce greenhouse gases with minimal costs and an auction that is designed to extract billions from industry," said Stewart. "We don't challenge the authority of AB 32 or CARB's authority to implement a cap and trade program. We have always worked with CARB toward effective implementation, but they have clearly decided to turn the auction into a money raiser. We support any legal action to ensure that California gets what it was promised -- a cost effective, technologically feasible, and legal regulatory plan to reach our emission goals."