Proposition 87

California has recently been in forefront in the battle against climate change with a landmark legislation to cut green house gas emissions by 25% over the next 15 years. This is also expected to decrease emissions to the 1990 level.

yeson87.jpg

Proposition 87 is another step in the right direction. This would establish a $4bn program to reduce petroleum consumption by 25%, by providing research and production incentives for alternative energy technologies. Funding for this program would come from a tax of 1.5% to 6% (depending on oil price per barrel) on producers of oil extracted in California. The proposition explicitly prohibits producers from passing tax to consumers.

Naturally, this has gotten the oil companies into a tizzy and they are sparing no expense to discredit the proposition. After all, $10bn in quarterly profits only goes so far these days!

Advertisements

3 Responses to “Proposition 87”

  1. Joan Says:

    Glad you are back and have resumed posting. Look forward to reading more of your posts. I agree: it is time to make the oil companies return some of their huge (perhaps ill-gotten) profits back to the community.

  2. Joe Says:

    I totally agree also. The only way we are going to become independent is to make some investments in the future.

  3. Barbara Kahn Says:

    City of Alameda Democratic Club is sponsoring a meeting on the upcoming primary, with speakers representing 5 of the candidates (yes, there are more than 3) as well as a presentation on the propositions Wednesday, Januaary 9, 7-9PM aat the Alameda hospital

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: