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Those Oil Companies Lied: California's Climate Change Law Will Create Jobs

Just for the record, a new report completely debunks the claims to out-of-state oil companies made to try to kill California's AB 32.


A quick refresher: In 2006, Governor Arnold Schwarzenegger signed Assembly Bill 32 into law. It was a great piece of legislation, requiring California to reduce greenhouse gas emissions to 1990 levels by 2020, with cutting to begin in 2012. But oil companies, particularly Valero and Tesoro, didn't like the law because greenhouse gas regulations and a thriving clean energy sector would hurt their bottom lines, and they love money more than the natural world.

So last fall, Valero and Tesoro funded a campaign to fool voters into passing Proposition 23, a ballot initiative that would effectively kill AB 32. The entire campaign was designed to play upon citizens' fears about the economy. Sponsors dubbed Proposition 23 the "California Jobs Initiative" and in ridiculous TV ads, scared people into believing that allowing greenhouse gas regulations to go into effect would result in a net loss of 1 million jobs in the state.

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Oh, So This Is Why Valero Wants to Stop California's Climate Law

A new report shows that Valero, a Texas oil company, makes tons of money in California.


Back in 2006, California passed Assembly Bill 32, a law that required the state to lower greenhouse gas emissions to 1990 levels by 2020. It's a pretty forward-looking piece of legislation.

But this year there's an initiative on the ballot called Proposition 23 that would basically kill California's climate change law. (Technically, it would just "suspend" A.B. 32 until unemployment drops below 5 percent in the state, but that's not likely to happen for a long time.)

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