How do you spell insanity? A cap and trade bill in bankrupt California. Are these people suicidal? Is their unemployment rate not high enough already? Or do they just expect the more sane states to bail them out?
From Weasel Zippers:
Because California Isn’t in Bad Enough Shape, State Set to Adopt Cap-And-Trade…
"(LA Times)- California regulators Thursday are expected to adopt the nation’s most comprehensive carbon trading regime, creating a market-based way to lower greenhouse gas emissions at a time when similar efforts have stalled in Congress.
The program is the centerpiece of the state’s 2006 global warming law, which aims to slash carbon dioxide and other planet-heating pollution to 1990 levels by 2020. That would amount to a 15% cut from today’s level.
The cap-and-trade system “will help drive innovation, create more green jobs and clean up our air and environment,” said California Air Resources Board Chairwoman Mary D. Nichols, adding that it “provides flexibility” to industry and takes “into consideration the current economic climate.”'