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Comment 103 for Cap & Trade PDR (dec-14-pdr-ws) - 1st Workshop.
First Name: Matthew
Last Name: Heberger
Email Address: mheberger@yahoo.com
Affiliation:
Subject: Comments on Cap & Trade Plan
Comment:
Thank you to the State of California and the Air Resources Board for leading the way to reduce greenhouse gas emissions, help stabilize carbon dioxide concentrations in our atmosphere, and, hopefully, avert some of the worst impacts of global warming. I am submitting comments simply as a concerned citizen. First, the board should research, and the state should consider, "cap and dividend" as an alternative to "cap and trade" market mechanisms to reduce emissions over time. An increasing body of evidence points to this as a better, more fair and stable alternative. Second, rights to pollute or "allowances" should be auctioned, and not given away for free. No polluter should be grandfathered in. Just because a particular industry or utility has been polluting the atmosphere in the past, they should not be given the right to consider doing so for free. I believe that setting up a blind "all-in" auction is also economically most efficient. Third, offsets should not be considered as part of the plan. I understand the lure of the idea (why not pay for a re-forestation project in Borneo instead of making actual emissions reductions at power plants in California, especially when they are cheaper?), but offsets will delay the reductions at home (where Californians will enjoy substantial co-benefits such as reduced sulfur dioxide and nitrogen oxide pollution), and delay the technical innovation that California industries and scientists are uniquely capable of creating. Fourth, the market in emissions allowances should be limited to polluters themselves. We cannot seriously consider allowing big banks and hedge funds to turn carbon into the next toxic asset. I have serious concerns when I read about the amount of lobbying being done by financial institutions. The state must guard against collusion, speculation, and the pursuit of short-term financial gain that will undermine the environmental goals of the program. Thank you.
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Date and Time Comment Was Submitted: 2010-01-11 19:00:47
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