Posted by Jon Fleischman at 12:00 am on May 25, 2010 Comments Off on WSJ Editorial on AB 32: “Cap and Flee”
From today’s Wall Street Journal Opinion Page…
Cap and
Flee: California refutes its own ‘green jobs’
policy.
California, that former land
of opportunity, was one of the first states to pass its own version
of "cap and trade" to reduce greenhouse gas emissions. In 2007 when
Governor Arnold Schwarzenegger signed the law, called AB-32, he
said it would propel California into an economy-expanding, green
job future. Well, a new study by the state’s own auditing
agency—its version of the Congressional Budget Office—has burst
that green bubble.
The study released May 13
concludes that "California’s economy at large will likely be
adversely affected in the near term by implementing climate-related
policies that are not adopted elsewhere." While the long-term
economic costs are "unknown," the study finds… Read More