Previewing Oregon’s newest Cap-and-Trade bill

Last week I attended the Central Oregon launch party for the Oregon Business Alliance for Climate. This organization formed earlier this year with the main goal of helping establish a “Cap and Invest” program in the state. They hope to accomplish this through Senate Bill 1070 (cap-and-trade) which was introduced at the end of the last session following previous bill draft revisions.

Action on the bill is expected during the upcoming short session in February, 2018. The Governor and 33 Oregon legislators have already pledged their support.
The information provided at the event was compelling, especially when you consider the success of similar programs in many other states. California lawmakers recently renewed their Cap and Trade program with approval that extended across party lines.
Key aspects of the bill aimed at reducing pollution include:
• Allowances which authorize emissions by businesses up to a certain level.
• These allowances can be bought and sold and any remaining allowances are auctioned.
• Offset projects are allowed which assist companies in meeting compliance obligations.
• Proceeds from auctions will constitute another source of revenue for the state.
You can get full details regarding the bill at the organization’s website: OR_BizAlliance
Incidentally, the event was held at the Deschutes Brewery here in Bend where I sampled the ALES for ALS beer for the first time. I’m usually not a big pale ale fan, but maybe the fact that a portion of every sifter purchased goes towards ALS research made it taste a bit better – what a great idea for an important cause!