Amazon, BP Counter Push to Repeal Washington Climate Law
A ballot initiative would nix a program that compels big emitters to pay for their pollution, as opponents blame it for driving up fuel costs.
The Marathon Anacortes Refinery in Anacortes, Washington, March 7, 2022.
Photographer: David Ryder/BloombergWhen regular gas prices in Seattle blew past $5 last month, it appeared to play into the hands of conservative activists and politicians who say the surefire way to bring down fuel prices is repealing Washington state’s most ambitious climate policy: a cap-and-trade program.
Created under Washington’s 2021 Climate Commitment Act, “cap and invest,” as it’s known in the state, requires companies with high emissions to pay for their pollution in a carbon market that began operating last year. It’s raised roughly $2 billion to help fund state programs. November’s ballot initiative I-2117, bankrolled by a wealthy Seattle-area investor, would repeal that law and prevent anything similar from taking its place.