Todd Myers of the Washington Policy Center says the latest auction results are just the latest evidence of that sad reality
Todd Myers
Washington Policy Center
Last week, the Department of Ecology released the results of the latest CO2 auction, reporting a 24% jump in the price since the last auction in December. In the last six months, the price of CO2 allowances has increased 67%.
The cost of Washington’s CO2 tax is now 39.5 cents per gallon of gas and 48.3 cents per gallon of diesel.
When the CO2 tax took effect in January of 2023, average gas prices in Washington and Oregon were virtually identical. Today Washington’s average gas price is about 37 cents per gallon more than Oregon. There are many other policies and factors that influence the difference between the two states, but the fact that the gap between the two states is similar to the implied cost of Washington’s CO2 tax is not a coincidence.
It is also notable that that the price of $50 per metric ton of CO2 is above the Department of Ecology’s projected price in their “High Scenario” of $49.45 released in December. Although prices aren’t at the level of 2023, they are still much higher than projected.
The auction results demonstrate again that despite the bluster from Ecology staff and some politicians, they can’t accurately predict future prices even a few months into the future. The notion that they can successfully manage a radical economic and energy transition decades into the future when they can’t successfully predict things just a few months ahead is obviously ludicrous.
As long as Washington’s climate policy is based on the myth that agency bureaucrats can guide Washington to a carbon-free future, the state will continue to waste huge amounts of money on failed projects, significantly increase energy prices, harm families, and continue to miss our (arbitrary) climate targets.
The latest auction results are just the latest evidence of that sad reality.
Todd Myers is the vice president for research at the Washington Policy Center.
Also read:
- Opinion: Is the cheap fast-food burger a thing of the past?
Mark Harmsworth argues that rising minimum wages and B&O tax increases are driving higher food prices and squeezing low-income consumers and small businesses across Washington state. - Opinion: Blood on the highways fails to move Ferguson and Kotek
Lars Larson criticizes Washington and Oregon governors over licensing policies he says are linked to deadly truck crashes and ongoing highway safety risks. - Letter: ‘When we curtail one group’s rights we leave open the door to losing our rights too’
Camas resident Anthony Teso argues that constitutional protections apply to immigrants and warns that limiting one group’s rights risks undermining everyone’s civil liberties. - POLL: Do you agree that enforcing U.S. immigration laws is not an act of racism?
This poll asks readers whether enforcing U.S. immigration laws should be viewed as a lawful responsibility rather than an act of racism. - Opinion: Should taxpayers walkout?
Lars Larson argues that student walkouts and absenteeism in public schools raise questions about accountability for taxpayers who fund the education system.
“As long as Washington’s climate policy is based on the myth that agency bureaucrats can guide Washington to a carbon-free future, the state will continue to waste huge amounts of money on failed projects, significantly increase energy prices, harm families, and continue to miss our (arbitrary) climate targets”…. THIS PERFECTLY SUMS IT ALL UP.
Wash. State is simply headed in the wrong direction. And being guided by those who drink the Democratic kool-aid. There is simply too much credible (yes, “scientific”) evidence that even should we actually achieve pristine air quality, the overall difference that would make is negligible. Negligible for the PNW, for the west coast, for the U.S., for the world. State-led efforts at addressing “climate control” are tilting at windmills and are making us all suffer needlessly.
Believing that Democrats actually care about our ecology is the first mistake.
These people are schizophrenic or, in technical terms, crazy as loons.
First they’re enviro-wackos ‘Saving the planet!’ with electric vehicles, helping to make laws against gas cars.
Then they’re setting Teslas on fire, burning huge batteries, releasing large amounts of toxins into the environment.
Remember just a year ago, when Biden, DOJ/FBI, Democrats and lamestreme media were calling conservatives ‘extremists’ and ‘domestic terrorists’?
Now we see who the real domestic terrorists are.
‘It Shouldn’t Come as a Surprise That the Domestic Terrorists Attacking Tesla Have This Thing in Common’
“Three of four alleged Tesla facility and charger vandals appear to identify as transgender or nonbinary. The alleged perpetrators of different Tesla properties all identify as transgender, cross dress or go by ‘she/they’ pronouns.”
https://thelibertydaily.com/it-shouldnt-come-as-surprise-that-domestic-terrorists/