In 2006 the California Legislature passed the most sweeping environmental legislation in the nation. Celebrity Governor Arnold Schwarzenegger couldn’t wait to put his signature to the bill.
The two basic pillars of AB 32 was first, to reduce California’s greenhouse gas emissions to 1990 levels by the year 2020 and second set up a cap and trade system that would make evil polluters buy credits to offset their GHG emissions. The money from the credits would go to fund green projects that would in turn meet the goals of pollution reduction.
At the time an overwhelming number of Californians enthusiastically supported this noble undertaking without asking what it would eventually cost.
The slick politicians told the gullible public not to worry about such minor details. And besides they could feel great about what they were doing and could look smugly at other benighted states that hadn’t reached their level of enlightened environmental consciousness.
Then in 2010 alarms were raised about the cost and the economic harm that might come if AB 32 was fully implemented.
Signatures were gathered for a ballot initiative that would delay… Read More