As the Air Resources Board prepares to vote on its Scoping Plan for implementation of AB 32, there are many outstanding concerns from academics, business owners, and community members about the cost impacts that remain unaddressed. The costs associated with reducing greenhouse gas emissions are enormous – requiring billions of dollars in capital investments and annual operating cost increases – yet the Air Board is still focusing only on the potential benefits of the plan and not the certain challenges ahead.
According to Dan Walters (Sacramento Bee, December 10, 2008) the implementation of AB 32 “amounts to a huge wager, involving countless billions of public and private dollars, on an outcome that will only become apparent many years after Schwarzenegger has left the Capitol. And it’s coming amid what may be the worst economic recession since the Great Depression.”
Small businesses are joining the Legislative Analyst’s Office in asking for a more thorough review of cost-effective options before CARB locks in a major program that could have serious ramifications for our economy.
The LAO stated that under AB 32 “some businesses could lose money or go out of business.” With the national financial industry crisis and growing state fiscal problems, we need to do all that we can to help keep businesses in California, keep our workers employed, and grow our economy. Now is not the time to make it even harder to do business in California.