Washington's Carbon Auction Raises Gas Prices by 45 Cents per Gallon
TL;DR
The Washington Department of Ecology's second quarterly auction of emissions allowances under the cap-and-trade program saw a 60% increase in money raised from $300 million to $480.5 million. The auction is part of the state's cap-and-trade program, which requires companies that emit greenhouse gases over a certain threshold to purchase allowances held during quarterly auctions. As a result of the latest auction, the program had added a total of $.45 cents per gallon to the price of gas and $.54 per gallon to the price of diesel.
- Think tank: Washington cap-and-trade program now adds 45 cents per gallon The Center Square
- Tensions, gas prices rise as Washington state auctions carbon E&E News
- Latest WA Carbon Auction Likely to Boost Gas Prices $.45 Cents newstalk870.am
- WA's second greenhouse-gas-allowance auction raises over $500M The Seattle Times
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