Twelve Years of Giveaways to Polluting Industries via California Carbon Trading Programs

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A pumpjack at sunset. Photo by Canva.

Between 2013 and 2024, California distributed nearly $28 billion to the oil industry and biofuel companies from two state climate programs: the Low Carbon Fuel Standard and the Cap and Invest program. That is the research finding that will be presented in this webinar by the authors of a new, soon-to-be-released report by The Climate Center: “Clearing the Zero-Emission Path.” The $28 billion was mostly generated via higher gasoline prices at the gas pump. That money was supposed to fund investments in cleaner, more efficient, and more affordable transportation systems that are needed to stabilize our climate. Instead, it supported carbon-emitting combustion technologies.

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