Oregon Democrats advance sweeping climate policy

a cap-and-trade program, a market-based approach to lowering the greenhouse gas emissions behind global warming

Oregon's program would begin in 2021, and the state wants to reduce emissions to 80% below 1990 levels by 2050.

Most of the money raised -- estimated to total $550 million in the first year -- would be used to fund a sweeping progressive platform that encourages further emission cuts and prioritizes investments in low-income and tribal communities' ability to respond to climate change.

Detractors on the left note Oregon's program, like California's, offers concessions to nearly every industry to dampen the potential financial impact. For the program's first few years, the state will cover a majority of pollution allowances for some industries, including natural gas and utilities companies. The fossil fuel industry is essentially the only one on the hook for paying the full price

California's program [CARB prices] has added 2 million jobs and grown its GDP by $700 billion [BWAH!] since taking effect in 2012. The nine northeastern states [RGGI?! renewable fuel network] with a more limited cap-and-trade program saw $1.4 billion in net economic benefits and 14,500 new jobs from 2015 to 2017, according to a report from Analysis Group.