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California's Air Resources Board passed a Cap & Trade rule on Dec 16, 2010 and adopted the resulting regulations on October 20, 2011. Although the adopted regulations give away many permits to polluters, there is a $10/ton reserve price (price floor), and the language could allow for some dividends. The California Public Utilities Commission has opened a proceeding to discuss the allocation of allowances in the electric utility sector, and is seriously considering returning the majority of proceeds to households as rebates. The transportation sector will phase into the system in 2015, and will likely require action by the State Legislature to include dividends. Info on the CARB Cap & Trade rule is here. More information here.
Previously in 2009-2010, the California Air Resources Board received recommendations from their Economic Allocations Committee (EAAC). The EAAC recommended dividends, and said, “The largest share (roughly 75%) of allowance value should be returned to California households...”
Nationally, Senator Maria Cantwell (D-WA) and Senator Susan Collins (R-ME) introduced the CLEAR Act, which auctions GHG permits and returns 75% of revenues back to consumers through Cap and Dividend. Write to your Senator. Several cities have endorsed the CLEAR Act. More info at www.supportclearact.com.
New - Customize and print out your own printable U.S. dividend (pdf) or printable California dividend (pdf), which you can give to people and use at events.
Many of the ideas on this site were inspired by Richard Douthwaite, who passed away on November 14, 2011, and will be missed.
Recent and upcoming talks: June 8, 2010 at 7PM in Berkeley. Click here.
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