In 2006, California adopted a law that would cut greenhouse gas emissions by California oil refineries, manufacturers, cement plants, utilities and other carbon polluters starting in 2012. A new initiative slated to appear on the ballot in November is aimed at delaying that cut in emissions until the state has an unemployment rate under 5.5%. The unemployment rate in CA as of February 2010 was 12.8%. Oil companies are pushing particularly hard on this initiative, asserting that complying with the law as it is will cost California more than a million jobs, according to a study done at California State University, Sacramento. That study is widely disputed.
According to yahoo.com, “The California Air Resources Board, the entity charged with implementing the law, estimates climate regulations will promote investments in clean energy and will reduce California’s overall fuel expenses $3.8 billion by 2020.” More on this can be found at EmploymentSpectator.com.
Republican Governor Arnold Schwarzenegger has vowed to fight the initiative, as it undermines what he believes is his legacy as governor. Gubernatorial candidate Meg Whitman has vowed to suspend the climate law if she wins the election in November.
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