California has long been known as a pioneer state willing to forge ahead in new ventures, technology, ideas and entertainment.
But if the Legislature thinks that one state acting alone can singlehandedly solve global warming, they are California Dreamin’.
A new report from the non-partisan Legislative Analyst’s Office (LAO) happens to agree with our tune.
Yesterday, the California Jobs Initiative shared a critical report from
the LAO which adds to the growing body of evidence that California’s
"go it alone" approach on global warming will destroy jobs, impose a
$180 billion Energy tax on Californians, and further crush California’s
economy. The LAO report concludes that California’s climate policies
are "both more aggressive and comprehensive" than other states – so
much so, that it is cause for alarm.
The LAO strikes down California’s foolhardy attempt to solve global
warming all by our lonesome (it is, after all, called "global" warming,
not "California" warming, last time I checked…) The LAO suggests
that if AB 32 implementation proceeds as scheduled, California’s
economy will "be adversely affected in the near term." Not exactly
what California’s economy needs as it struggles to make a comeback.
What’s worse, the LAO’s findings reveal that a stringent policy such
as AB 32 will not only raise the state’s prices for electricity, along
with the prices of goods and services, but it will most certainly
result in further "economic leakage." For us non-Warren Buffett types,
that means jobs relocating (and rapidly so) to other states where
regulatory costs are lower.
The LAO suggests that the loss of jobs and economic damage may be
mitigated somewhat by other states adopting more stringent climate
policies, but California has no control whatsoever over other states.
In fact, in a global economy where we’re all now competing for jobs
during a Recession, none of us expect other states (and nations) to do
us any favors in the near future.
So, California can keep dreamin’, but as the LAO Report suggests it’s
time to wake up to the economic nightmare that will occur to the
state’s economy unless AB 32 is temporarily suspended.
For a copy of the LAO Report, visit: http://www.jobs2010ca.com
Jennifer Kerns is affiliated with the Howard Jarvis Taxpayers Association, which is a proponent of the California Jobs Initiative