by Steve Thurston

For those readers concerned about the cost of gas, diesel and/or heating fuel, there is an important law under consideration called Cap and Invest that Democrats are planning to use in place of the failed (but not repealed) Clean Heat Standard. In a nutshell this law will increase the cost of fuels by a projected minimum 26 cents/gallon on gasoline and 31 cents/gallon on heating oil and diesel fuel at inception and those extra costs will increase steadily over time.

State Treasurer Mike Pieciak (D) recommended to the legislature that they “pause” taking action on this program in the last session due to its cost, which could have had repercussions for Democrats in an election year similar to the Clean Heat Standard in 2024. Recall that the Clean Heat Standard was enacted over the Governor’s veto despite projections of 50 cents per gallon added to the cost of heating oil. Taking his advice, Democrats have been very quiet about it the Cap and Invest program.

However, the PUC is still very actively working on Cap and Invest because they are required by the Global Warming Solutions Act to find ways to reduce Vermont’s carbon emissions (which are already the lowest of any state).

Cap and Invest is hanging by a thread that will break on November 3rd. It will either go on to become law, or drop into the trash can. The voters will decide.

If Phil Scott is not reelected there will likely be no more vetoes of Vermont’s very aggressive climate policies.