WSPA: Well-Designed Cap-And-Trade Program the "Prudent Approach" to Meeting State's Climate Change Targets

SACRAMENTO, Calif., Jan. 10, 2017 /PRNewswire-USNewswire/ -- Catherine Reheis-Boyd, President of the Western States Petroleum Association, today released the following statement with regard to Governor Brown's proposed continued authorization of California's cap-and-trade-program:

"The Governor, as part of his 2017-2018 Budget, has proposed to authorize California's cap-and-trade program beyond 2020.The proposal would include a 2/3 vote to allow the State to continue to raise billions of dollars.

WSPA and its member companies believe focusing on a market mechanism to achieve California's climate goals is the prudent approach. In 2016, California adopted one of the most stringent GHG reduction targets in the world. Achieving this target will be difficult and costly. Achieving the reductions through a well-designed cap-and-trade program will minimize those costs. Where today's proposal falls short is that it simply layers the cap-and-trade program on top of costly and counter-productive command-and-control measures, disregarding the increasingly important role of cost containment.

WSPA looks forward to working with the Governor and the Legislature on a climate program that works towards achieving California's climate goals while protecting the economy and California families, consumers and businesses."

ABOUT THE WESTERN STATES PETROLEUM ASSOCIATION

Western States Petroleum Association (WSPA) is a non-profit trade association that represents companies that account for the bulk of petroleum exploration, production, refining, transportation and marketing in the five western states of California, Oregon, Washington, Arizona, and Nevada.

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SOURCE Western States Petroleum Association