
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