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Prop. 23 campaign concedes defeat

Backers of Proposition 23, the ballot initiative to suspend California's ambitious global warming law, conceded defeat, calling the outcome "a victory for Wall Street over Main Street" and vowing to continue their efforts to "save jobs" and curb energy costs.

“While the global warming law may attract venture capital dollars to the state, they will not translate into the jobs or economic activity promised by Proposition 23’s opponents,” said Jack Stewart, president of the California Manufacturers and Technology Assn.

Opponents of the initiative raised more than $30 million to defeat it--three times as much as proponents. Stewart took aim at Silicon Valley venture capitalists such as John Doerr and Vinod Khosla, who opposed the initiative along with other major clean-tech investors who see the climate law, known as AB 32, as paving the way to an economy powered with alternative energy.

“Venture capitalists will come to California to cash in on the subsidies, but the lion’s share of the facilities, revenue and jobs will go to other places, like China, where the cost of doing business is much more affordable,” he said. “It’s no coincidence that while venture capital investment in California has increased slightly since AB 32 was adopted in 2006, California has lost 1.4 million jobs and ranks among the nation’s worst in manufacturing growth.”

Jon Coupal, president of the Howard Jarvis Taxpayers Assn. and co-chairman of the Yes on Proposition 23 campaign, said that “as the actual regulations under the global warming law begin to take effect, it will become obvious that the costs far outweigh the benefits. “Families and taxpayers will learn too late that the bill for California’s multibillion-dollar hidden energy tax will fall squarely on their shoulders.”

-- Margot Roosevelt

RELATED: Prop 23: Backers were outspent, out-organized

 
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i think this is great for la. its just it seems like these things are still expensive, no?

i totally agree. i think this will create jobs and be good for not only the environment but the struggling economy.

Think about it, people: It's change that creates job. Once you build a building, or a car, or a machine, it's built. There's no more jobs involved until it needs repair or maintenance. But insulating every existing home will create lots of jobs, installing lots of new solar and wind power systems will create lots of jobs, retrofitting factories with anti-pollution gear will create lots of jobs. It's amazing that industrial leaders don't see the profit potential of revamping the economy to be more energy efficient and less polluting. They seem to think that only trashing the environment is profitable. Eventually, they will learn.

What's all this about California being a "failed state" or ruined or bankrupt? Sure we have our financial problems. Sure I am underemployed and struggle to pay my bills.

Still, I live in one of the most beautiful places on Earth. I have a roof over my head and eat good fresh food. I go to world-class beaches and attend world-class entertainment events. I volunteer with world-class environmental organizations that accomplish amazing things with very little money because there are so many of us dedicated environmentalists here that are eager to spend our time making this State even more beautiful.

There is no reason to fear better environmental protections, but we should be afraid of multinational corporations that consider California as a cash cow ready to be slaughtered.

This is overall probably good for California not only on a environmental level but on an economic level as well. As it should create jobs and help reduce energy reliance on oil.

The clear message from the national midterm elections is that President Obama’s progressive policies have not worked for economic recovery, and his other risky domestic initiatives are widely unpopular. This midterm election also shows California, and Obama, to be out of step with the American political mood.

California, generally seen as forward leaning politically, has voted to move in reverse -- back to the government-growing, tax-and-spend liberalism that has brought us 12.5% unemployment, job-killing environmental and business regulations, and ubiquitous taxes. Except for rejecting marijuana legalization, the other approved ballot initiatives blindly perpetuate the militant immigrant, labor union and environmental special interests that have crushed California prosperity for the foreseeable future.

What this election should have been for California is a therapeutic intervention to change its addiction to big government. Sadly, the election results will read like an obituary of failed progressive political policies and has beens. The national political trajectory is changed with this election; and it will leave California behind as a failed state.

California has wiped out on the conservative wave election. This confirms California's status as a failed state under the oppression of militant immigrant, labor and green special interests. The once "Golden State" is broke and broken.

> "...the lion’s share of the facilities, revenue and jobs will go to other places, like China, where the cost of doing business is much more affordable,”

This argument presents a false choice, that somehow ignoring pollution or climate change will stop manufacturing from shifting to China. Manufacturing goes to China because labor is a *lot* cheaper and it is easier to externalize costs onto the environment. No amount of regulation or de-regulation in California is going to stop that from being true. California isn't, won't be, and doesn't need to be the world's center for cheap manufacturing. The wiser choice seems to be continuing to be a leader in what we do best: Technology development.

Also, I don't understand the fears stated here that higher gas prices are somehow going to ruin the economy. Gasoline has been over $4/gallon in the European Union practically forever, and their economies remain competitive. If anything, they've become more efficient because of high energy costs. I fail to see the downside to making our economy more efficient & resilient in the face of swings in the price of oil.

There are already 500,000 people employed in California due to alternate energy. Sour grapes make bitter wine. The cost of the devastation to this planet and health from the billions in profits made by oil companies is far more detrimental and only meant to keep their pockets full. I hope this now truly brings more good alternate energy jobs to America to jumpstart our economy and spurs other states to start to get more aggressive about solar, wind, geothermal, etc. The time to come full circle for a sustainable future has come. Thanks, California.

YA,CALIFORNIA IS SCREWED NO HOPE,DONT PEOPLE NO THAT GLOBAL WARMING IS A LIE,NOT IN CALIFORNIA.PEOPLE NEED TO NO THIS TAX IS NOT JUST FOR BIG OIL BUT FOR YOU TO SO WHEN GAS HITS $10 A GALLON AND OUR POWER BILL IS 3 TIMES MORE YOU ONLY HAVE YOUR SELF TO BLAME.GET SMART CALIFORNIA.

California wipes out on the conservative wave election. This confirms California's status as a failed state under the oppression of militant immigrant, labor and green special interests. The once "Golden State" is broke and broken.

California voters saw that Proposition 23 had almost nothing to do with jobs, and was little more than a fraudulent attempt by Texas oil companies Valero and Tesoro to dismantle California environmental laws that are making it more expensive for them to do business. Any company that thinks it's okay to sacrifice our environment for its bottom line should not be welcome here. I for one will no longer be doing business with Valero or Tesoro.

Probably more accurate to say this is a victory of California clean-tech over Texas oil and Kansas Coal... This will be good news for jobs in California in the long run. And the environment.

oh man, we have just ensured 40% unemployment with who we have elected and propositions like this. Its obvious people should need to pass a test of some sort before being allowed to vote. Poor California...

And the crazy thing is when the price of fuel goes up in CA, it's going to be the evil oil companies' fault, not the fault of the people who vote to regulate the oil industry into non-existence.

So they are now pretending that wall street and Greenpeace are more or less the same, and that Wall St. puts ecology over convenience and profit? Riiiiight.

Give me a break. These guys just talk about jobs so ignorant people will be suckered into signing over or planet's, and specifically our state's environmental health. Its just a cover so they can get around green laws and make more money raping our planet. Thank god this POS bill didn't pass. Thank you to everyone who voted against it.

Still do not get or understand how letting more pollution into our environment creates more jobs?

What about our health, does anyone care about that anymore or our kids health. Dirty energy is not good for anyone except lining oil millionaires bank accounts!

Lets see, Money or my families Health which one do I pick? Hmmm...


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