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Still Dreaming in California (all pain and no gain from carbon rationing policy)

By Chip Knappenberger -- March 14, 2009

AP writer Samantha Young describes the results of a new report commissioned by California Governor Arnold Schwarzenegger’s Climate Action Team that puts a price tag on all sorts of climate change-related damage set to befall California in the decades ahead.

But as you may have guessed from a report commissioned by the leader of state who presided over the enactment of the world’s first “comprehensive program of regulatory and market mechanisms to achieve real, quantifiable, cost-effective reductions of greenhouse gases,” the price is high (it better be, or what was the point?). And, as with all things global warming, folks are quick to point out that it is probably going to be even worse than it is made out to be.

But what is not pointed out is that California’s emissions reduction program will do nothing to mitigate the impact of the coming climate.…