Schwarzenegger to sign most restrictive CO2 emmisions bill in nation
|***Updated and Bumped*** Scroll down for updates.|
Last week I gave Arnie a thumbs up for his solar power initiative that makes new home manufacturers offer the panels as an option on new construction, but this bill could be disasterous for the California economy.
I can't help but agree with that. I was a big fan of Arnold because when he led the recall of Gray Davis, one of his platforms was bringing business back to California. This won't help that. And if business leaves California, some will stay in the US, but how much will go to the cheaper labor, better tax codes, and less restrictive environmental codes? Whether that's Arizona, Nevada, Mexico, or China it's not California.
I guess we don't value our economy that is ranked 10th in the world...
UPDATE @ 3:59pm on 9/1: An interesting article from the utility companies' perspectives. PG&E reversed its position on the bill after a revision was added that would allow for suspension of the law should the economy be "significantly hurt" by the reduction in emissions. The article also points out that PG&E is less likely to be as greatly affected by the bill due to the fact that they don't rely on coal for energy production. The major utilities will be the most affected because of their reliance on coal-fired power whereas smaller, independent producers rely more on natural gas and some renewable resources.