If you are a ferry rider or concerned about our climate, read on to see if it's worth the price of a latte to forsake both.
In 2021 the State passed a goal to reduce greenhouse gas emissions by 45% over 1990 levels on the way to net zero emissions by 2050. To achieve such a lofty goal, they passed the Climate Commitment Act (CCA) in 2021. CCA mandated that the biggest greenhouse gas emitting companies in the State must reduce their emissions each year or purchase ‘offsets’ to exceed their limits. Such a market based approach is generally called Cap & Invest, where the true cost of a product is factored into its price.
So far so good, until 2023 when a paid initiative petition, I-2117, found its way to the ballot for this November election. It proposes to scuttle the benefits of the Climate Commitment Act.
If the CCA goes away, the first loser will be our beleaguered ferry system which incidentally is the State’s largest emitter of CO2 emissions, drinking up 18 million gallons of diesel per year. Revenue from the CCA supports new boats (certainly needed) which could reduce emissions by 50% by 2033.
Speaking of revenue, that CCA brought in an amazing $1.8B (yes, billion) in 2023 and potentially $435M of that is targeted for new hybrid boats.
The second fatality will be this little problem called climate change. Voting out efforts to address this challenge will certainly not diminish the laws of physics and nature which drive it. Unfortunately the parts per million of CO2 in our atmosphere has climbed to 420 and the consequences of these greenhouse gasses are unfolding just about the way 97% of credible climate scientists have been predicting for years.
Other recipients of CCA revenue include projects that focus on reducing transportation emissions, energy alternatives and boosting climate resilience.
But back to the price of that latte. The big gas companies decided to pass their increased cost along to you. Yea, that’s capitalism, but one would have thought that with gas revenues going through the roof, the oils would have done the noble thing and eased off. After all, Exxon reported $36B in profit in 2023 while Chevron reported $21B and Shell hovered around $28B, all well above averages. Seems greedy, but recall these same companies knew that fossil fuels caused climate change around 30 years ago and successfully created the illusion that the science was inconclusive and it became the political issue it now is.
Folks on both sides of the aisle generally agree that the paramount goal of government is to allow all to prosper and maintain a future for the next generations.
Please, check ‘No’ on I-2117, to give CCA a chance!