Posted by Tina
The flailing fiscal fate of California has been further solidified by the Governors stubborn, foolish global warming regulatory stance. The state of our state makes it perfectly clear…this is no time to dig in our heels on cap and trade.
California’s ‘Green Jobs’ Experiment Isn’t Going Well, by Stephen Moore – WSJ
** Gov. Arnold Schwarzenegger was all smiles in 2006 when he signed into law the toughest anti-global-warming regulations of any state. Mr. Schwarzenegger and his green supporters boasted that the regulations would steer California into a prosperous era of green jobs, renewable energy, and technological leadership. Instead, since 2007 — in anticipation of the new mandates — California has led the nation in job losses. **
** The regulations created a cap-and-trade system, similar to proposed federal global-warming measures, by limiting the CO2 that utilities, trucking companies and other businesses can emit, and imposed steep new taxes on companies that exceed the caps. Since energy is an input in everything that’s produced, this will raise the cost of production inside California’s borders. *** The environmental plan was built on the notion that imposing some $23 billion of new taxes and fees on households (through higher electricity bills) and employers will cost the economy nothing, while also reducing greenhouse gases. Almost no one believes that anymore except for the five members of the California Air Resources Board (CARB). *** California’s unemployment rate hit 9.3% in December, up from 4.9% in December 2006. There are now 1.5 million Californians out of work. The state has the fourth-highest housing foreclosure rate in the nation, has lost more businesses than any state in recent years, and is facing a $40 billion deficit. With cap and trade firmly in place, the economic situation is only likely to get worse. *** Other states are plundering the Golden State’s industries by convincing businesses to pick up stakes and move out before the cap-and-trade earthquake hits. Governors and Washington politicians who want to reduce their “carbon footprint,” but are worried about the more immediate crises of cascading unemployment, unbalanced budgets, and the housing-market collapse, would be wise not to follow California’s lead. Green policies have a tendency to push states into the red. **
** FYI – Schwarzenegger has adapted one of his Hummers to run on hydrogen and another to run on biofuels. He has also installed solar panels to heat his home. Wikipedia **