Brewer Halts Cap and Trade Program
February 24, 2010
Earlier this month, Governor Jan Brewer issued an executive order pulling Arizona out of the Western Climate Initiative cap-and-trade market program. The Governor cited impacts on Arizona’s economy as well as Arizona’s own efforts to focus on solar, nuclear, and other renewable energy. Arizona will also instead focus on investments by businesses that can create green jobs.
According to the W.P. Carey Economics and Public Policy, cap and trade could hurt the local Gross State Product (GSP) in a range from $3.3 to $14.7 billion and cost Arizona between 17,000 and 124,000 jobs. Arizona’s participation in the program was done at the direction of former Governor Janet Napolitano.
On Sunday, George F. Will recognized the Governor’s action, in his column, “Global warming advocates ignore the boulders,” where he explains, “Brewer worries, sensibly, that it would impose costs on businesses and consumers.”
The Governor’s action has drawn national attention elsewhere as well, featured in the New York Times, “Arizona Quits Western Cap-and-Trade Program” and the Wall Street Journal, “Arizona Quits Western Cap-And-Trade Mkt; Utah Mulls Similar Move.”
Governor Brewer’s focus has instead been on attracting investments by businesses that can attract green jobs. Since the Governor signed the renewable energy tax incentive program into law, more than a dozen companies have identified Arizona for their future solar projects. Already, more than a dozen companies from around the world have pledged more than $1 billion dollars in capital investments, creating more than 850 renewable energy based jobs for Arizona.
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