Initiative to Repeal Cap-And-Trade May Already Be Lowering Carbon Auction Prices

A choice available to voters on the November ballot could already be saving them money at the pump. This November, voters in Washington state will have the final say on Initiative 2117, which would repeal the Climate Commitment Act and prohibit state agencies from implementing a cap-and-trade program. However, there is some evidence that I-2117 may already be impacting the price of carbon credits, given a major decrease in the price of carbon credits during this year’s first two auctions as compared to last year’s auctions.