By Jon Coupal | “Fool me once, shame on you. Fool me twice, shame on me,” so the saying goes. Unfortunately, California voters have been fooled (aka lied to) so many times by our political leaders that perhaps they have come to expect it. For a politician to actually keep his or her word is now the exception, not the rule.
And it’s not just voters who get fooled. Interest groups and other officials are often snookered by those with more political power. Several recent displays of this political behavior show beyond any doubt that promises made in Sacramento have an extraordinarily short shelf life.
The first example deals with California’s one-of-a-kind “cap and trade” law, a market-based regulatory system for incentivizing reductions in greenhouse gas emissions. Under this program, impacted industries must pay for emitting greenhouse gases by purchasing credits at auction. The program was set to expire in 2020, but in 2017 there was a big political push to extend “cap and trade” in a way that would impose another huge cost to refineries and utilities, which would then pass those costs to California drivers, truckers and electricity customers.
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