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Washington voters waver on GHG repeal: Poll

  • Market: Emissions, Natural gas
  • 16/09/24

Support for a repeal of Washington's carbon market in the upcoming November election may be softening, while a repeal targeting the state's plans to phase out natural gas may be gaining strength, according to a recent public opinion poll.

The poll — which canvassed 403 registered state voters by phone and online earlier this month — indicates just under a clear majority of voters leaning towards a "no" vote on initiative 2117, which would repeal language in the state's Climate Commitment Act (CCA) authorizing the state's cap-and-trade program. A successful repeal would prevent local and state officials from creating a similar replacement for the "cap-and-invest" program.

Data collected in the survey indicates that 46pc of those surveyed would vote against the repeal, with the bulk of voters identifying as Democrat, with 21pc Republican support. The repeal vote received 30pc support, with slightly more than half those surveyed in favor identifying as Republican, and a further 2pc of the total surveyed undecided on the issue.

Washington's "cap-and-invest" program requires large industrial facilities, fuel suppliers and power plants to reduce their greenhouse gas emissions by 45pc by 2030 and by 95pc by 2050, from 1990 levels. Revenue from state allowance auctions and other related funds is required by state law to be used for critical climate projects throughout Washington.

In contrast, initiative 2066 received a majority support in requiring the state to continue to provide natural gas to utility customers, at 47pc. The ‘no' vote to continue dissuading the use of natural gas in the state as part of the state's energy transition plan garnered 29pc, with a further 24pc undecided. Respondents identifying as Republican formed the bulk of the "yes" vote with 68pc.

Initiative 2066 would repeal HB 1589, signed into law by governor Jay Inslee (D) earlier this year. The law creates planning requirements for certain utilities to comply with a network of state regulations and greenhouse gas (GHG) emission reduction targets and transition away from natural gas in cost-effective ways.

Let's Go Washington, a political action committee, has backed both initiatives over the past year, on the narrative that the state's plans to transition away from natural gas-use and the cap-and-trade program raise fuel and energy prices for families.

The poll, conducted by Cascade PBS/Elway, had 43pc of respondents identify as Democrat, 24pc as Republican and 34pc as Independent. Respondents were primarily ages 36 and older, from western regions of the state and with the majority, at 34pc, from suburban areas.

Under state law, either initiative will need to receive a majority of total votes cast to pass in the 5 November election.


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11/10/24

Japanese firms eye developing CCS project in Alaska

Japanese firms eye developing CCS project in Alaska

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Mexico’s Sep inflation slows with energy prices


10/10/24
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10/10/24

Mexico’s Sep inflation slows with energy prices

Mexico City, 10 October (Argus) — Lower energy prices supported an easing in Mexico's consumer price index (CPI) in September for a second consecutive month. The CPI slowed to an annual 4.58pc in September, down from 4.99pc in August, Mexico's statistics agency Inegi said on 9 October. This was lower than both Mexican bank Banorte's own 4.59pc estimate and its analysts' consensus estimate of 4.61pc. Energy inflation eased for a second month, dropping to 6.9pc from 7.9pc in August and 9.2pc in July, with LPG prices — the largest component — slowing to 14.7pc in September from 16.8pc in August and 25.6pc in July. Seasonal rains, now ending, have largely reversed the price spikes in farm goods caused by extreme drought earlier this year, with fruit and vegetable inflation slowing to 7.65pc in September from 12.6pc in August, making it the first single-digit rate since November 2023. "Despite the positive performance of agricultural items since August, lingering risks could turn them negative again," Banorte said in a note, emphasizing that above-normal rainfall will be needed in the coming months to avoid a return to drought and price spikes next year. For now, Mexican weather agency Conagua still estimates relatively heavy rains in October, but "more adverse" conditions for November and December, with no state forecast to exceed the upper range of historical rainfall. Core inflation, which strips out volatile food and energy, eased in September to 3.9pc from 4pc, moving within the central bank's 2pc to 4pc target range for the first time since February 2021. Inside core, said Banorte, packaged and manufactured goods continue to improve, standing at 2.9pc from 3pc in August. Services also moderated, adjusting to 5.1pc from 5.2pc. "A downward trend in the latter is needed to corroborate additional gains for the core," Banorte said. "This will still take some time, especially given that the margin for additional declines in goods may be running out." The Mexican bank added that within this context, it maintains its estimate for full-year 2024 core inflation to hold to 3.9pc. Though less weighted than core inflation, the bulk of September's easing in the headline was due to non-core inflation, including prices on more volatile items such as fuels and farm goods. Inegi reported non-core moving to 6.5pc in September from 8pc in August. Despite two months of better-than-expected price improvements, Banorte warned that "risks remain," with energy prices susceptible to gains amid "geopolitical tensions in the Middle East and economic stimulus in China." Still, there is "room to adjust gasoline subsidies" to cushion these effects, it added. By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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UN carbon market regulator takes 'agile' approach


10/10/24
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10/10/24

UN carbon market regulator takes 'agile' approach

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EU CBAM application to UK would be ‘political failure’


10/10/24
News
10/10/24

EU CBAM application to UK would be ‘political failure’

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Hurricane Milton leaves 3.4mn in the dark


10/10/24
News
10/10/24

Hurricane Milton leaves 3.4mn in the dark

New York, 10 October (Argus) — About 3.4mn customers in Florida were without power this morning after Hurricane Milton pummeled the state with heavy rainfall and strong winds. Utility crews began the process of assessing and repairing the damage caused by the hurricane which tore down trees and downed power lines after slamming into Florida's west coast as a powerful Category 3 hurricane late Wednesday. Florida Power & Light had about 1.2mn homes and businesses without electricity, Duke Energy reported about 875,000 outages, while about 592,000 customers of Tampa Electric were affected, according to independent tracker Poweroutage.us. Milton, which has since weakened to a category 1 storm with maximum sustained winds of 85mph, is now moving off the east coast of Florida. "On the forecast track, the center of Milton will continue to move away from Florida and pass to the north of the Bahamas today," according to the National Hurricane Center. The risk of life-threatening storm surge remains on the eastern coast of Florida, while hurricane-force winds are expected to linger for a few more hours. Major flooding as a result of heavy rainfall also continues to pose a threat. A recovery in road fuel supplies, which were strained by the pre-storm evacuation of hundreds of thousands of residents, will depend on the extent of power, roadway and port outages. The state has waived statutes regulating the sale, storage and distribution of liquid fuels . By Stephen Cunningham Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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