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Residents of Washington state will be paying a lot more for energy than their counterparts in California this year, and that's not good for the environment, the Seattle Times reports.
In August's auction of carbon-dioxide permits, the price rose 15% to $56.01 per metric ton, which translates into about 45 cents per gallon of gasoline and 54 cents per gallon of diesel.
That's 84% more than California's $30.33 per MT/CO2.
The higher price triggers a special auction in August to increase the supply of permits, but those allowances are still under the state's cap and don't add to the total allowable emissions.
"Although Washington is paying more for CO2 emissions than California, that additional cost doesn't help the environment. It just harms our economy," writes the Times.
"As long as the governor and agency staff continue to deny that reality, Washington residents will pay a high price for energy but won't receive the environmental benefits they are paying for."
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Social Entrepreneurship
Spotlight
Social Enterprise: Reaching Out to the Private Sector for Help
John Converse Townsend, a Forbes contributor, shares what can the private sector do for a social enterprise. He encourages social enterprises to reach out to corporations for help to scale up their businesses.
