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California drivers brace for costly new gas tax
Source:
foxnews.com
- Aug 28, 2014
Californians already pay the nation's second highest gas tax at 68 cents a gallon -- and now it will go up again in January to pay for a first-in-the-nation climate change law.
"I didn't know that," said Los Angeles motorist Tyler Rich. "It's ridiculous."
"I think it’s terrible," added Lupe Sanchez, pumping $4.09-a-gallon gas at a Chevron near Santa Monica. "The economy, the way it is right now with jobs and everything, it's just crazy."
When gas prices go up, motorists typically blame oil companies, Arab sheiks and Wall Street speculators. This time they can blame Sacramento and former Gov. Arnold Schwarzenegger for passing a bill requiring California to reduce carbon emissions to 1990 levels by 2020.
The tax on carbon already raised about $1 billion in revenue by requiring manufacturers and utilities to buy credits for each ton of carbon emitted into the atmosphere. At the beginning of next year, the law will also apply to oil and gas. Refiners and distributors say they will pass another $2 billion in costs on - largely to consumers.
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Category: General Business
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