Stunner: California’s cap-and-trade on track to deliver 14% of promised revenue in first auction

posted at 2:01 pm on December 11, 2012 by Ed Morrissey

Just think — if Democrats win the midterm elections in 2014, we could see this kind of success on a national scale!  California has struggled with massive budget deficits for years, but the political class in Sacramento stumbled on the perfect solution to falling revenues and rising costs … soaking the business world to seize more capital for further spending.  The state held its first auction of cap-and-trade credits, and projected that businesses would spend a billion dollars in buying, er, vapor.  Those projections were just a teensy bit optimistic, as Bloomberg’s Steven Greenhut explains:

In late November, the California Air Resources Board held its first of these auctions, in which businesses such as oil refineries and utilities bid for credits that allow them to emit greenhouse gases. They must cut back their production or buy enough credits to cover all their emissions. Statewide emission caps will drop each year as California pushes businesses to produce fewer greenhouse gases or pay more to buy the declining number of credits for auction in this newly created government “marketplace.”

That is the plan anyway. “First cap-and-trade auction a bust for California budget,” read the headline in the Sacramento Bee. Budget planners expected that the state would receive $1 billion from the sale of credits, but the 2013 credits went for a low price and there was little demand for 2015 credits. As the Bee story explained, “The nonpartisan Legislative Analyst’s Office estimates that if trends hold in the February and May auctions, the state may only raise about $140 million in the first year.”

So they’re on track to miss their target by only 86%.  Some people might consider that a failure, but in California, that $140 million will fund eleventy-billion dollars in new spending.  Winning!

As if to prove my point, Governor Jerry Brown wanted the proceeds to fund the high-speed rail project that California has begun, which will transport people from Bakersfield to somewhere near Fresno, two places people love to leave but don’t want to arrive.  Even at the rate of income projected by the geniuses in Sacramento, it would take 100 years of cap-and-trade sales to fund that project without taking interest payments into account.  At the rate of actual sales, it would take 714.28 years.

Of course, there might not be many people to move between Fresno and Bakersfield by that time:

While they count on money from the auctions, California officials have imposed new costs on businesses, raised utility rates and put the state’s industrial products at a competitive disadvantage so that it can set an example for the world on how to reduce global temperatures. Democratic officials argue that the new green-energy model will energize the state’s business climate, but even the Air Resources Board admits that the state will suffer from what it terms jobs “leakage.”

The “leakage” might be a “floodage,” according to Dave Roberts, who reports for the website CalWatchdog. A study sponsored by pro-business groups estimates that the state will have 262,000 fewer jobs in 2020 because of the climate-change law. Roberts also cited a Boston Consulting Group finding that as many as 51,000 jobs might be lost due to refinery closings alone. California farmers and food processors are concerned that the rising state-mandated production costs will cause job losses as low-cost Chinese and Mexican processed-food imports take some of their business.

Leakage.  Job destruction is more like it.  Seizing capital from businesses in order to fund a government that hasn’t been able to accurately project a budget since the Los Angeles Dodgers were last in the World Series isn’t exactly a model for growth.  The cap-and-trade system imposed by California will necessarily hike energy costs, as businesses pass along the burden to consumers, and energy producers will continue their exodus from the Golden State.

California used to act as an example of success for the nation.  Lately, they’re more a warning to others.

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Seizing capital from businesses in order to fund a government that hasn’t been able to accurately project a budget since the Los Angeles Dodgers were last in the World Series isn’t exactly a model for growth.

The Dodgers are on board too. Spending Investing a ridiculous amount of money (by private sector standards) on dubious talent will surely lead to success.

Go California!

forest on December 11, 2012 at 2:05 PM

Even at the rate of income projected by the geniuses in Sacramento, it would take 100 years of cap-and-trade sales to fund that project without taking interest payments into account. At the rate of actual sales, it would take 714.28 years.

Jerry Brown will probably still be in office by then.

Doughboy on December 11, 2012 at 2:05 PM

As if to prove my point, Governor Jerry Brown wanted the proceeds to fund the high-speed rail project that California has begun, which will transport people from Bakersfield to somewhere near Fresno, two places people love to leave but don’t want to arrive.

LOL. Maybe a city of lost people will pop up in the middle? Winning!

Even at the rate of income projected by the geniuses in Sacramento, it would take 100 years of cap-and-trade sales to fund that project without taking interest payments into account.

Don’t worry about the interest cost. The Fed is planning on keeping interest rates at zero for at least 100 years.

ThePrimordialOrderedPair on December 11, 2012 at 2:07 PM

Not much of a stunner.Anyone with half a brain could see this trainwreck coming.

docflash on December 11, 2012 at 2:07 PM

“But it works in the classroom…”

– Leftard

Seven Percent Solution on December 11, 2012 at 2:11 PM

What a scam. If the nation ever regains it’s common sense we should ship all democrats to Antarctica where according to corrupt liberal scientists it’ll be nice and balmy.

darwin on December 11, 2012 at 2:12 PM

when in doubt blame it on the bossanova…

DanMan on December 11, 2012 at 2:14 PM

What a scam. If the nation ever regains it’s common sense we should ship all democrats to Antarctica where according to corrupt liberal scientists it’ll be nice and balmy.

darwin on December 11, 2012 at 2:12 PM

Lets not. We may need some place as a refuge from socialism and Antarctica may just be that place.

sharrukin on December 11, 2012 at 2:17 PM

While they count on money from the auctions, California officials have imposed new costs on businesses, raised utility rates and put the state’s industrial products at a competitive disadvantage so that it can set an example for the world on how to reduce global temperatures.

Not to mentioned the ruined agriculture industry, thanks to the greenies in the state and federal government.

Socratease on December 11, 2012 at 2:19 PM

Is the weather in California really that great? C’mon people, get the he11 out of there.

tommer74 on December 11, 2012 at 2:19 PM

It is a stunner. I would have guessed more like 8% of promised revenue. No sane business will stay in California. Even if they have to leave like the Baltimore Colts left Baltimore.

Happy Nomad on December 11, 2012 at 2:19 PM

California used to act as an example of success for the nation. Lately, they’re more a warning to others.

Let California burn. A big testament to liberal policies.

rbj on December 11, 2012 at 2:19 PM

“…and there was little demand for 2015 credits.”

Businesses don’t intend to still be doing business in California by then.

Midas on December 11, 2012 at 2:22 PM

Good god man! Mexican processed food! Nom nom nom Taco Bell

RAGIN CAJUN on December 11, 2012 at 2:22 PM

And remember recently when gas prices in CA rose when a refinery shut-in… temporarily. What’ll happen to gas prices when the California refineries shut-down permanently? Remember that refineries in other parts of the country do not make gas formulated to meat California environmental standards.

So I guess they will need those trains, since $25/gallon gas will make it too expensive to drive anywhere.

2klbofun on December 11, 2012 at 2:23 PM

The good news? LA Dodgers signed Zack Greinke to a 6 year 143 million dollar contract. Someone has to pay that salary. Guess who?

a capella on December 11, 2012 at 2:23 PM

I predict this will have no effect of food scarcity or food prices.

And I am always right.

/

tom daschle concerned on December 11, 2012 at 2:26 PM

California used to act as an example of success for the nation. Lately, they’re more a warning nightmare to others.

Don’t bail them out. Let them wallow in their self-made crap. They make pigs indignant.

Schadenfreude on December 11, 2012 at 2:26 PM

Seizing capital from businesses in order to fund a government that hasn’t been able to accurately project a budget since the Los Angeles Dodgers were last in the World Series isn’t exactly a model for growth.

EASY… we’ll be in the World Series in 2013… 25 years since the last one…

Khun Joe on December 11, 2012 at 2:28 PM

I just hope and pray that the Californians fleeing the state for Texas leave their state’s political attitudes behind. We already have a little piece of CA in Texas (aka, Austin). We don’t need any more.

iurockhead on December 11, 2012 at 2:29 PM

California used to act as an example of success for the nation.

That was a long long time ago

HotAirian on December 11, 2012 at 2:30 PM

Some people might consider that a failure, but in California, that $140 million will fund eleventy-billion dollars in new spending. Winning!

Is that really you, Ed? A sarcastic Ed. We are in strange times.

Anyway, I’m not being critical. You had me laughing.

Mockery is our best–maybe our only–remedy these days, since serious purpose has become more or less irrelevant.

Burke on December 11, 2012 at 2:30 PM

They have a point on reducing ‘greenhouse gasses’. With all of the producers leaving the state, levels should certainly drop.

MikeinPRCA on December 11, 2012 at 2:30 PM

I think it may be worse than they think. I saw some California cap and trade credits for sale at the Dollar store.

Rocks on December 11, 2012 at 2:31 PM

Just imagine if a Republican state or federal administration had come up with “leakage” to gloss over massive job losses.

Sheesh.

rockmom on December 11, 2012 at 2:32 PM

apparently, 86% of productive employers expect to move the affected jobs elsewhere.

MTF on December 11, 2012 at 2:39 PM

Seriously? Why is anyone surprised when liberal ideas don’t turn out as expected?

hawksruleva on December 11, 2012 at 2:40 PM

This cap and trade business sounds suspiciously like the .com bubble and the facebook offering. I don’t understand why people would invest in nothing.

Cindy Munford on December 11, 2012 at 2:43 PM

Look for “leakage” to become a new buzzword, just like taxes are now being called “revenues”.

hawksruleva on December 11, 2012 at 2:44 PM

I just hope and pray that the Californians fleeing the state for Texas leave their state’s political attitudes behind. We already have a little piece of CA in Texas (aka, Austin). We don’t need any more.

iurockhead on December 11, 2012 at 2:29 PM

If I were Texas, I’d be enacting an entrance fee for anybody seeking to relocate to the state along with a mandatory test of Texas history before the newly arrived can vote in an election.

Happy Nomad on December 11, 2012 at 2:45 PM

hawksruleva on December 11, 2012 at 2:40 PM

I think the only people surprised that the liberals ideas didn’t turn out as expected are liberals. The rest of the nation is hoping that they will speed it up a bit, just on the chance that someone can learn from others mistakes.

Cindy Munford on December 11, 2012 at 2:45 PM

Is the weather in California really that great? C’mon people, get the he11 out of there.

tommer74 on December 11, 2012 at 2:19 PM

No Thank You. They crapped in their messkit. Let them enjoy it, not go somewhere else and crap in someone else’s messkit!

Tenwheeler on December 11, 2012 at 2:45 PM

Well, if those Progressive corporations like Google would stop stashing their money in offshore, tax shelters in Bermuda, then California would be golden.

/

Q for Progs: I’m a little confused here. What’s the difference between the Cayman Islands and Bermuda?

Mitt Romney: “Economic traitor”

Bain Capital: Vulture, pioneer in outsourcing, massive tax avoider

Eric Schmidt, CEO and Chairman of the Board of Google: Obama mega-bundler; was asked to be Secretary of Business, Commerce or Treasury, but refused; member of the President’s Council of Advisors on Science and Technology; Presidential adviser; was an informal Obama campaign adviser in 2008 and continues to be; and was a member of President Obama’s transition advisory board.

Google: Violates privacy laws; shelters income to avoid corporate taxes all over the world; antitrust law violator; and, one of the current-day “Robber Barons” in terms of control of the market share.

Where’s your outrage?

Resist We Much on December 11, 2012 at 2:47 PM

Democratic officials argue that the new green-energy model will energize the state’s business climate, but even the Air Resources Board admits that the state will suffer from what it terms jobs “leakage.”

California has to have warnings printed on it, now, just like Oleastra did. And it’s the exact same sort of “leakage”.

ThePrimordialOrderedPair on December 11, 2012 at 2:48 PM

Where’s your outrage?

Resist We Much on December 11, 2012 at 2:47 PM

Outrage only works for the Left.

Cindy Munford on December 11, 2012 at 2:51 PM

Somehow this image comes to mind.

A bully stops a kid in the midst of his paper route and says, “Give me candy.”

The kid gives the bully all his candy and then pedals away, working hard to finish his route, takes his earnings and buys more candy so he can bring it to the bully the following day.

That’s what the kid will do, right? You take his candy, he just gets more so you can take that, too. The kid would never think of changing his behavior, not buying any more candy, or bringing his big brother along next time to beat the living tar out of the bully. Right?

So, who’s the big brother for small business? The small “b” kind, who’s an actual relative and concerned for your future?

IndieDogg on December 11, 2012 at 2:51 PM

Outrage only works for the Left.

Cindy Munford on December 11, 2012 at 2:51 PM

I know, but I soooooooooooooo love calling them out on their hypocrisy!

Resist We Much on December 11, 2012 at 2:55 PM

Resist We Much on December 11, 2012 at 2:55 PM

I understand. It’s the little things in life that make it all bearable.

Cindy Munford on December 11, 2012 at 2:57 PM

Of course, it’s not like the California Democrats are going to learn their lesson from this. If they come out of this cap-and-trade failure with any lesson, it’s going to be to pass some new law to mandate corporations buy their carbon credits or face penalties that will be close to what the state expected to get from the credits to begin with.

jon1979 on December 11, 2012 at 2:57 PM

I’m amazed somebody is willing to pay $140 million for nothing.

I think I might start selling earwax. If nothing goes for $140 million, then an old Q-tip has to be a bargain at like $65,000. If you buy it, I won’t have to throw it away. Less garbage in a landfill and such… I’ll even make a deal: $64,750.

Gingotts on December 11, 2012 at 2:57 PM

tommer74 on December 11, 2012 at 2:19 PM

Yes it is, it’s 68 degrees and the sun is shining.

Rose on December 11, 2012 at 3:00 PM

apparently, 86% of productive employers expect to move the affected jobs elsewhere.
MTF on December 11, 2012 at 2:39 PM

Or just go Galt – shut down, cash out, and retire to the Bahamas.

Marcola on December 11, 2012 at 3:07 PM

I am so (not) surprised.

Bob's Kid on December 11, 2012 at 3:10 PM

One of the biggest jokes in this is the assumption that the oil co’s will even bother to play. I suspect they will IGNORE this entire farce and simply pass along whatever the fines are in higher gasoline prices!

IF the state government shuts down their operations, then California will be importing gasoline at even higher prices!

Freddy on December 11, 2012 at 3:12 PM

Budget planners expected that the state would receive $1 billion from the sale of credits, but the 2013 credits went for a low price and there was little demand for 2015 credits.

I shorted the sale, made a killing, bought a Hummer.

MichaelGabriel on December 11, 2012 at 3:13 PM

Cap and trade is so going to work for CA. Taxes go way up. The population leaves. Down goes the carbon footprint. It’s so simple, it’s positively brilliant.

shaken on December 11, 2012 at 3:13 PM

I understand. It’s the little things in life that make it all bearable.

Cindy Munford on December 11, 2012 at 2:57 PM

Indeed!

Preliminary results from my “Man/Woe-is-me-man on the Street in the hallways of MSNBC” polls:

Cause of Aurora theater massacre – Second Amendment or Hollywood movie?

Second Amendment

Cause of Benghazi consulate attack – Islamist terrorism or First Amendment-protected free speech expressed in a “movie”?

First Amendment

Resist We Much on December 11, 2012 at 3:14 PM

Hoocoodanode?

Robert_Paulson on December 11, 2012 at 3:16 PM

tommer74 on December 11, 2012 at 2:19 PM

Yes it is, it’s 68 degrees and the sun is shining.

Rose on December 11, 2012 at 3:00 PM

That nice weather will be in Austin TX by Thursday, along with a bunch more of California’s producers…

Gingotts on December 11, 2012 at 3:23 PM

Good god man! Mexican processed food! Nom nom nom Taco Bell

RAGIN CAJUN on December 11, 2012 at 2:22 PM

THREAD WINNER!!!!

wolfplus3 on December 11, 2012 at 3:27 PM

Gingotts on December 11, 2012 at 3:23 PM

Actually we have one son already in Dallas and we are thinking of following him upon retirement. But here in Ventura County we rarely have the extreme weather that Texas has.

Rose on December 11, 2012 at 3:33 PM

Oh and we are very conservative.

Rose on December 11, 2012 at 3:34 PM

Of course, it’s not like the California Democrats are going to learn their lesson from this. If they come out of this cap-and-trade failure with any lesson, it’s going to be to pass some new law to mandate corporations buy their carbon credits or face penalties that will be close to what the state expected to get from the credits to begin with.

jon1979 on December 11, 2012 at 2:57 PM

And that would only accelerate the mass exodus of businesses to states like Texas.

I hope they do it.

Turtle317 on December 11, 2012 at 3:41 PM

All this schadenfreude about the state of the state ignores the real problems here, and they’re not cap-and-trade and high-speed rail (a project, which, although ill-advised, is designed to go between the two most highly populous areas, going through the Central Valley, not to it as Ed claims; it’s the first segment built that would be in the Central Valley). Yes, the politicians have made a lot of bad decisions, but the situation they’re in is not to be seen in isolation. Voter initiatives have straightjacketed what they can do with regards to the budget. And California’s greatest negative isn’t Democrats, but two booms and busts — tech (impacting the state almost exclusively) and housing (impacting only a handful of other states). In boom times, it’s difficult to tell a teacher or firefighter, “We know that your housing costs have doubled, and we know we have a lot of money, but it just wouldn’t be prudent to give you a huge raise.” So they get raises. And in bust times that “lot of money” disappears.

This can’t be blamed solely on liberal Democrats. California might be blue, but we’ve had mostly Republican governors, like Pete Wilson (who sought to re-Mexicanize alien migrants but only succeeded in alienating Mexican migrants, and who brought us the disastrous faux-deregulation of electricity) and Schwarzenegger (’nuff said). It is also notable that those areas of California that are booming are the bluest, while it’s the red parts — due to property bubbles and reverse migration — that are suffering. Any schadenfreude is really directed primarily at your fellow conservatives who have the misfortune of living in a state where their ideals are not implemented. So maybe there should be a little less gloating, and a little more understanding of what’s really going on here.

calbear on December 11, 2012 at 3:43 PM

calbear on December 11, 2012 at 3:43 PM

Please see the HA article on the relevancy of the rural voter.

‘Nuff said.

Turtle317 on December 11, 2012 at 3:46 PM

Jerry Brown will probably still be in office by then.

Doughboy on December 11, 2012 at 2:05 PM

Hey, Lenin still lives, on Red Square, in an mausoleum.

Anyone can make that same trip from Fresno to Bakersfield faster by car, all things considered. Come to think of it, one time we decided to fly from SF Bay Area to SoCal (on business) instead of the usual car ride, it took us way longer and was way too inconvenient in the end. And way more expensive.

riddick on December 11, 2012 at 3:47 PM

Born, raised and still living in California… High speed rail between the butt-hold and left-armpit (Bakersfield and Fresno) of CA is going to cost someone, er, Californians, buh-buh-buh-billions.

HSR has “Utterly Predictable Financial Disaster” written all over it.

I live in norther CA in a red county and red city. Other than the Democrat-overhead of stupidity and its results, we are in fairly good shape. But I believe that the Democrats are planning to create regional governments that will serve the purpose of redistributing property taxes from our city/county to Sacramento city/county right next door to us.

Needless to say, Sacramento city/county is terminally blue and so idiotically poor in spite of every opportunity to prosper as it used to.

I’ve been here all my life, but my wife and I are becoming more used to the idea that California is becoming a good place to be *from*…

DrDeano on December 11, 2012 at 3:47 PM

Democratic officials argue that the new green-energy model will energize the state’s business climate,

I’m stupefied that someone could write those words.

Cicero43 on December 11, 2012 at 3:48 PM

calbear on December 11, 2012 at 3:43 PM

I think too that not everyone in California is affected by what’s going on. We bought our house 20 years ago and even with the housing crisis our home is still worth twice what we paid. We are not underwater and our equity can be used to buy a retirement home. My husband lost his job but it wasn’t because of regulations, it was because of this slow economy which has affected every state. He has a new job but with less money. We are ok, not prosperous.

Rose on December 11, 2012 at 3:52 PM

Well, if those Progressive corporations like Google would stop stashing their money in offshore, tax shelters in Bermuda, then California would be golden.

/

Q for Progs: I’m a little confused here. What’s the difference between the Cayman Islands and Bermuda?

Mitt Romney: “Economic traitor”

Bain Capital: Vulture, pioneer in outsourcing, massive tax avoider

Eric Schmidt, CEO and Chairman of the Board of Google: Obama mega-bundler; was asked to be Secretary of Business, Commerce or Treasury, but refused; member of the President’s Council of Advisors on Science and Technology; Presidential adviser; was an informal Obama campaign adviser in 2008 and continues to be; and was a member of President Obama’s transition advisory board.

Google: Violates privacy laws; shelters income to avoid corporate taxes all over the world; antitrust law violator; and, one of the current-day “Robber Barons” in terms of control of the market share.

Where’s your outrage?

Resist We Much on December 11, 2012 at 2:47 PM

You forgot to mention the real outrage with Google, Sergey Brin. His parents left Russia and its communist ways and here we are, the idiot supports not only Hussein, but plenty of communist ideas.

riddick on December 11, 2012 at 3:54 PM

Democratic officials argue that the new green-energy model will energize the state’s business climate,

I’m stupefied that someone could write those words.

Cicero43 on December 11, 2012 at 3:48 PM

But of course it will. Businesses now will make plans to move out sooner rather than later. Why spend $20 Mil on “carbon chit”, year in and year out, if you can spend less than that and move the entire business across the border to NV.

riddick on December 11, 2012 at 3:57 PM

Resist We Much on December 11, 2012 at 3:14 PM

Yep, they are so stupid and keep kicking our asses. Never underestimate the media.

Cindy Munford on December 11, 2012 at 3:59 PM

As I see it, California will be good for one thing, an endless number of “case studies” for Business Schools all over the world. Yes – it’s now one big petry dish of how to fail at leadership, create big government, kill jobs and businesses, base projections on bogus numbers and implode a state in just a few years. Jerry Brown continues to “follow the yellow brick road” into failure.

IlonaE on December 11, 2012 at 4:01 PM

while it’s the red parts — due to property bubbles and reverse migration — that are suffering.

calbear on December 11, 2012 at 3:43 PM

Revisionist history. As usual.

You keep forgetting that Central Valley used to provide a HUGE amount of food for the rest of USA. But CAl Dems, in their zeal to demolish conservative voting block (yes, CONSERVATIVE, not faux Republican such as “I’ll be back”) cut the water supply under false pretenses and killed not only conservative farmers, but who knows how many farming jobs in the process.

Had nothing to do with property “bubbles”, people simply leave when there are no jobs and in this case, entire neighborhoods are standing empty.

riddick on December 11, 2012 at 4:03 PM

Someone help me here. The global temperature is going to drop because CA has decided to implement a tax scheme? We are truly living in bizarro world.

txag92 on December 11, 2012 at 4:16 PM

That $-billion dollar estimate must have been made on the presumption that California is such a great place to live and do business that it could cost so much more than anywhere else but people and businesses will still stay there and pay the extra costs because they can’t do without all the benefits of California. I wonder if that is one of or the basic underlying assumption, even if not stated, behind some of these things that seem so zany as to defy belief.

What is not understood (or perhaps believed) is that in a game of tradeoffs, what one chooses as acceptable tradeoffs may not equate to what another chooses, even given the same information, because everyone is not the same.

Well, it might be that like snow accumulating on a high ridge, the powers that be can only really keep trying harder (letting the snow accumulate higher) until either the economy turns around (somehow/the snow melts) or it starts to come apart (like the avalanche starts) and in the chaos, things get swept away willy nilly. Then people can dig themselves out and see about recovery.

Russ808 on December 11, 2012 at 4:26 PM

Look for “leakage” to become a new buzzword, just like taxes are now being called “revenues”.

hawksruleva on December 11, 2012 at 2:44 PM

They’ll simply have to come up with ways for the folks in the red states to cover their “leakage” I suppose.

the state will have 262,000 fewer jobs in 2020 because of the climate-change law.

I admit I have no facts or figures, but a knee-jerk reaction is that that is too small of a number in that amount of time?

Dr. ZhivBlago on December 11, 2012 at 4:34 PM

The full insanity of this can only be understood when you realize what an infinitesimally small contribution this program will make to stopping global warming, even if you accept all of the absurd assumptions of the hysterics.

Progressive Heretic on December 11, 2012 at 4:37 PM

a government that hasn’t been able to accurately project a budget since the Los Angeles Dodgers were last in the World Series isn’t exactly a model for growth.

Maybe California government officials should watch Moneyball for ideas on how to do more with less.

aunursa on December 11, 2012 at 4:37 PM

Any schadenfreude is really directed primarily at your fellow conservatives who have the misfortune of living in a state where their ideals are not implemented. So maybe there should be a little less gloating, and a little more understanding of what’s really going on here.

calbear on December 11, 2012 at 3:43 PM

What you’re saying it’s actually the GOPs fault for not stopping all your stupid policies, correct?

Chuck Schick on December 11, 2012 at 4:39 PM

since the Los Angeles Dodgers were last in the World Series

As a fan of the reigning World Series Champion San Francisco Giants, I so enjoy this line.

aunursa on December 11, 2012 at 4:39 PM

Yep, they are so stupid and keep kicking our asses. Never underestimate the media.

Cindy Munford on December 11, 2012 at 3:59 PM

I didn’t say they were stupid. I said they were hypocrites. Big diff!

Resist We Much on December 11, 2012 at 5:07 PM

You keep forgetting that Central Valley used to provide a HUGE amount of food for the rest of USA. But CAl Dems, in their zeal to demolish conservative voting block (yes, CONSERVATIVE, not faux Republican such as “I’ll be back”) cut the water supply under false pretenses and killed not only conservative farmers, but who knows how many farming jobs in the process.

Had nothing to do with property “bubbles”, people simply leave when there are no jobs and in this case, entire neighborhoods are standing empty.

That’s the hype. Here’s the reality. The portion of the agricultural industry affected by the smelt fight is miniscule; overall, agriculture is booming, and the Central Valley keeps providing food for the nation. If it stopped, you’d know when you visited the grocery store….

calbear on December 11, 2012 at 5:07 PM

Any schadenfreude is really directed primarily at your fellow conservatives who have the misfortune of living in a state where their ideals are not implemented. So maybe there should be a little less gloating, and a little more understanding of what’s really going on here.

calbear on December 11, 2012 at 3:43 PM

What’s going on here is that more than 50% of the voters have unwisely decided that 100% of the voters need that old burn-your-hands-on-the-hot-stove lesson.

unclesmrgol on December 11, 2012 at 5:08 PM

1. Increase regulations, taxes, and energy prices.
2. ???????
3. Prosperity and socialist Utopia.

Native Californian here, born 1960. We are truly screwed. Stick a fork in us. The public employee unions, Homeless Inc., and the communists have complete control. The rest of America had better hope that “So goes kalifornia, so goes the nation” is not true anymore.

jukin3 on December 11, 2012 at 5:09 PM

In late November, the California Air Resources Board held its first of these auctions, in which businesses such as oil refineries and utilities bid for credits that allow them to emit greenhouse gases. They must cut back their production or buy enough credits to cover all their emissions

Other than it’s the ‘government’ doing the official fleecing, how is this different from a Mafia ‘protection racket’? “nice business you have there…”

I have lived long enough to see the government take a lesson from la cosa nostra. At least J Brown is honest that he is extorting the money to build something, even if it is terminally stupid like a super fast railway from nowhere to nowhere.

It’s the basic premise I take issue with. If these gases are so lethal, soooo harmful to Mother Earth, they shouldn’t, to be consistent, be allowed at all, anywhere, any time, at any price. Period.

marybel on December 11, 2012 at 5:18 PM

So they’re on track to miss their target by only 86%.

Sorry Ed, that is not correct. The miss is far worse.

1,000 million projected.
140 million achieved.

(1,000-140)/140=6.14.
They missed their projections by 614%.

jukin3 on December 11, 2012 at 5:25 PM

That’s the hype. Here’s the reality. The portion of the agricultural industry affected by the smelt fight is miniscule; overall, agriculture is booming, and the Central Valley keeps providing food for the nation. If it stopped, you’d know when you visited the grocery store….
calbear on December 11, 2012 at 5:07 PM

My grocery bill, sans food stamps, is still pretty much steeper than it was a couple of years ago.

However, that delta smelt thing really raised my blood pressure, so thanks for the informative link.

marybel on December 11, 2012 at 5:35 PM

Simply stated…it’s cheaper to move your business…I moved two of them out of California, and am embarrassed by the angst I caused myself thinking if it was the right move.

It couldn’t have been better, and the irony is my customers thought of it as a good move and responded by being even more “loyal” read that as buying more. You would never guess how many stated “Smart move”, and how many stated how dumb others were for staying…you don’t think business in Ca. are losing business because others think they are stupid? Think again…

right2bright on December 11, 2012 at 5:42 PM

That’s the hype. Here’s the reality. The portion of the agricultural industry affected by the smelt fight is miniscule; overall, agriculture is booming, and the Central Valley keeps providing food for the nation. If it stopped, you’d know when you visited the grocery store….
calbear on December 11, 2012 at 5:07 PM

And the food, because the soil is “worn out” is junk…and the amount of pesticides, and fertilizers in holding ponds are at a record high.

I never knew what a peach tasted like until I moved to the east coast, nor corn, beans, most every veggie and fruit, except for strawberries.

right2bright on December 11, 2012 at 5:45 PM

Greedy POLITICIANS put the private sector wealthy to shame.

PappyD61 on December 11, 2012 at 6:17 PM

Actually we have one son already in Dallas and we are thinking of following him upon retirement. But here in Ventura County we rarely have the extreme weather that Texas has.

Rose on December 11, 2012 at 3:33 PM

Yeah… I prefer the snow in NY to the extreme spiders that Texas has, but with the trend in this state only a couple of years behind the pace of CA, I might just have to gut up, pack a couple of cases of Raid and head on down there for any sort of worthwhile job…

Gingotts on December 11, 2012 at 6:45 PM

Any schadenfreude is really directed primarily at your fellow conservatives who have the misfortune of living in a state where their ideals are not implemented. So maybe there should be a little less gloating, and a little more understanding of what’s really going on here.

calbear on December 11, 2012 at 3:43 PM

Well, bear…on the one hand, I do feel sorry for any Conservative ‘stuck’ in California. And for gun enthusiasts. It’s got to be tough to live somewhere that completely ignores reality and won’t let you actually participate in turning the state around…because liberals/socialists know better, don’tcha know.

But on the other hand……is there some guy sitting on your chest with a gun in your face, demanding that you spend your life in California? Is there a fence around the state, or even check points to turn emigrants back under threat of law?

If you choose to live in California – for whatever reason or rationalization – then, you’ve made your own bed.
California will not change until long after it completely and finally collapses – and then it may be too late.

Solaratov on December 11, 2012 at 7:08 PM

That’s the hype. Here’s the reality. The portion of the agricultural industry affected by the smelt fight is miniscule; overall, agriculture is booming, and the Central Valley keeps providing food for the nation. If it stopped, you’d know when you visited the grocery store….

calbear on December 11, 2012 at 5:07 PM

You changed the subject. The argument was not that the ‘smelt fight’ had destroyed so much agriculture; but that it had destroyed enough to destroy a large number of jobs – and those jobs “just happened” to be in a predominately Red area. When the jobs disappeared, the people left. Voila! No more Red enclave.
Now, the area is filled with illegal immigrants – who reliably vote democRAT. (I know. I know. In theory illegals aren’t allowed to vote. In practice……)

Solaratov on December 11, 2012 at 7:23 PM

Might I instead suggest a high speed rail system from California to Arizona and Nevada?
Now, THERE’S a rail system that’ll be standing room only. In one direction.

orangemtl on December 11, 2012 at 7:38 PM

I live in Fresno. No one here wants or needs the train boondoggle. No one here wants any kind of cap-n-trade nonsense either.
Just my .02 on both subjects.

FireBlogger on December 12, 2012 at 12:16 AM

The $140M may be a bit of a high estimate. The only bodies who would “invest” in these “credits” would be those handling other peoples money – unions and pension funds – who think they can just go get more when they need to.

virgo on December 12, 2012 at 1:19 AM

Good god man! Mexican processed food! Nom nom nom Taco Bell

RAGIN CAJUN on December 11, 2012 at 2:22 PM

Sorry my good man, but Taco Blah is for people who don’t really care for Mexican, but are tired of burgers. We don’t consider it Mexican food. Tasty, but exactly like going to Popeye’s for real Cajun food. Come to San Diego, I’ll be more than happy to show you just how good Mexican food can be.

BillH on December 12, 2012 at 2:58 AM

How can we find out who was stupid enough to spend the $140 million?

Fogpig on December 12, 2012 at 11:00 AM

Ya’ll who are among the wealth 2% that make over $250,000 (excluding the dingbats in Hollywood) come on down to Texas and earn a living here. We have great weather, beaches, but no surf and few mountains. Still, we are business friendly and at this point relatively low taxes.

georgeofthedesert on December 12, 2012 at 12:03 PM