Home › Forums › Refining Community › Refinery News › US Cap-N-Trade Experiment to End But Calif Regional one Begins › RE: US Cap-N-Trade Experiment to End But Calif Regional one Begins
Here is update on bad (cost adding) US experiment CCX Cap & Trade Experimental trading program that will now end. Unfortunately the crazies in California got enough Billionaires Silicon Valley Green supporters who outspent backers of Prop 23 to delay the regional Cap&Trade (another Crash&Burn environmental law for mfg industries in California) while Calif was suffering financially.
Companies like Valero, Koch & Tesoro carried on a brave fight for the refining industry on this ballot measure but were defeated due to the harsh Anti-Mfg/Anti-Oil environment in California. California already lacks enough refining capacity and must import gasoline/diesel products from Asia sector …… a huge irony since China & most countries in that region have no environmental programs since the failed Kyoto program exempted them and they are now the world leader in pollution.
California has been the source for all the bad environmental burdens placed on the oil & refining process even though the state is rich in natural resources and is one of the 6 states that supply over 75% of the entire US refining production. Several California refining plants have been taxed and fined to point of closure and then barred by state from shutting down because of fear of shortage they would create, and is the reason independents like Valero, Koch & Tesoro have so many plants in California. Also the nearly bankrupt cities/state budgets begin to understand what the loss of taxes would mean in event of the plant closure, but like rest of US all plants are over 60-100 years old and have been blocked on putting in new facilities since 1975 by the elite, environmental rabid factions there.
Most Americans have California to thank for raising the cost of gasoline nearly $1.25/gallon thru limitations they have put on gasoline specifications (No lead, No MTBE, Low RVP, Low Sulfur levels, low ect) and made it almost impossible now to supply product from one state to another at one time nearly 14 different US state specifications on gasoline that make it impossible to be fungible – need to have less 4 variations to make it possible.
Hopefully at some time US Majors will begin to make this state pay for its stupidity and harsh restrictions. These laws are often followed by many other states since over 39 of them now have little to no refining plants and do not have any understanding of the security implications from destroying the US production capacity. Once Environmental groups backed by Liberal supporting billionaires like George Sorus, understood that they cannot duplicate the California laws outside the state began a backdoor elimination of fossil fuels thru pressure on the EPA & legal suites.