Oregon legislators have made passing a cap-and-trade bill a top priority this session. Two weeks ago, the Joint Committee on Carbon Reduction introduced the cap-and-trade bill for 2019 — House Bill 2020. This bill caps emissions from businesses that emit > 25,000 tons of carbon and requires those “regulated” businesses, fuel companies, and utilities to buy down their carbon emissions. This, in turn, will generate revenue to fund climate projects in Oregon.
On Monday, businesses testified about the impacts of HB 2020. To summarize, cap-and-trade will increase the cost of living and working in Oregon — all residents will bear the cost of fuel increases and increased natural gas rates. It’s projected to immediately drive up the cost of gas by $0.16 per gallon, and natural gas customers will face double digit rate increase in the first year of the program! Check out this one-pager that explains natural gas rate impacts for residential, commercial, and industrial customers.
We need your help to explain the impacts of this policy to Oregon legislators!