Here we go again. The favorite whipping boys, the oil companies, are blamed for unsubstantiated mal intent in California.
Lie: Big Texas oil companies and state politicians who receive oil company money designed Proposition 23 to kill California clean energy and air pollution standards.
Truth: Of course oil companies have a dog in this fight; they employ thousands upon thousands of people in California and contribute heavily to the state’s economy. But isn’t it better to ask, “Who will profit from AB32?”
Let’s follow the money. Where will the money flow from AB32?
(Clarification for non-Californians: Proposition 23, a November ballot issue, seeks to suspend AB32 and its disastrous effects from extraordinary taxes placed upon energy and all products made with energy in the state.)
Financial fat cats
One group set to profit from AB32 includes Wall Street financial engineers such as hedge fund manager and billionaire, Tom Steyer, who has contributed millions to the AB32 campaign.
Steyer and other groups of profit-seekers like him stand to make huge returns from trading carbon credits in a cap-and-trade provision embedded in AB32. They recognize that these profits will evaporate if Prop 23 is approved. These interests contribute no jobs, no value added, nor any progress toward an improved economy or affordable alternative energy sources but are prominent in the anti-Proposition 23 campaign.
SiV venture managers
Next are the Silicon Valley venture managers, who seek to reinvent themselves at public expense.
While some “green tech” makes sense, most of it makes little effect on the environment, much is little more than a marketing label, and none of it can compete in the marketplace without government subsidies. And these government subsidies must be funded by dollars taken from working taxpayers! Not to mention how California taxpayers are overtaxed plenty already in a rising sea of unemployment.
Let “green tech” compete in the marketplace on its own, like any other potential innovation. Let it not be supported by undeserved taxpayer dollars.
And then we have the green groups whose overreach has contributed mightily to California’s decline. You know who they are.
Drive through the San Joaquin Valley and see the land returning to desert and the destruction of a once vibrant agricultural industry. Who are they kidding? What side are they on? What environment are they saving?
Hell bent on destroying California
Of course, we cherish a healthy environment and want to work to improve it, but these groups have transited from benefactor to obsession, costing Californians, the economy, and their environment dearly.