“Large manufacturers and power plants must now either purchase permits or cut their emissions to comply with a state-mandated cap, which over time will be ratcheted down. Transportation fuel suppliers will also have to pony up for permits. Assembly Democrats fear that applying cap and trade to fuels ‘will cause an immediate jump in prices at the pump.’ While estimates vary, ‘an increase of about fifteen cents per gallon is likely and a much larger jump is possible.’ Green regulations are intended to raise the cost of gas to encourage people to drive less or buy electric cars. As the Assembly Democrats point out, cap and trade is ‘hurting the most vulnerable members of our communities.'”
http://online.wsj.com/articles/californias-cap-and-trade-revolt-1403908359
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