Governor just stuck the taxpayers with the bill

CA Governor Schwarzenegger just signed legislation that will increase energy prices, gas prices, and drive businesses out of the state. All in the name of environmentalism.

You'd think that Governor Schwazenegger would know better, after all, he claims to support the free market.

Let's assess the damage.

In a ceremony on San Francisco's Treasure Island with the city's skyline as a backdrop, Schwarzenegger declared the beginning of "a bold new era of environmental protection in California that will change the course of history" as he approved AB32, which calls for the state to reduce emissions of carbon dioxide and other gases by 25 percent by 2020. <snip>

That 25% figure is awfully arbitrary, isn't it? What happens when the state can't meet this goal? What other gases? The extra costs of refining are going to have to be paid somewhere. Will California just push those costs to other states?

Aides to the governor said he also planned to sign legislation later this week that will prohibit the state's electric utilities from buying electricity from high-polluting out-of-state power plants, a key step toward cleaning up the state's power supply. <snip>

California has a hard time meeting it's power needs as it is. This is going to increase the cost, at least within the state.

But on Wednesday, Schwarzenegger and others insisted that the caps would spur new clean-technology businesses and that other states, and eventually the federal government, would follow California's lead.

Except California has been losing businesses and population as costs increase.

Government is terrible at managing the economy. Centrally planned economics are a lousy idea.

— NeoWayland

Posted: Thu - September 28, 2006 at 05:08 AM  Tag

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