The Governor unveiled his latest climate proposals today. Despite claiming we face a climate crisis, the proposals are centered around the least effective approaches to reduce CO2. …
Low-carbon fuel standard (LCFS)
The Governor’s proposal for a LCFS standard is designed to link to existing requirements in Oregon and California. The current price to reduce one MT of CO2 in Oregon using the LCFS is $157.45, and in California the price is $195/MT. The stated goal of the LCFS is to reduce CO2-emissions per gallon by 20 percent. These numbers would amount to between 28 cents per gallon and 35 cents per gallon.
Measuring climate effectiveness, the LCFS wastes between 89 and 94 percent of the cost. Rather than spending 7 dollars to reduce one MT of CO2, an LCFS (using the California price) spends $195 – nearly 28 times as much.Read the Complete Article »