AB 32

California Climate Policies a $48 Billion Boon for State’s Economy, Analysis Finds

A new analysis by a non-partisan business group finds that California’s climate policies have been a boon for the state’s economy.

Assembly Bill 32, also known as AB 32 or the Global Warming Solutions Act of 2006, requires California to reduce climate-cooking greenhouse gas emissions to 1990 levels by 2020 — which meant cutting emissions about 25 percent from where they were at in 2006, when AB 32 was passed by the California State Legislature and signed into law by Governor Arnold Schwarzenegger.

According to the analysis from Environmental Entrepreneurs (E2analysis, AB 32 and related climate policies have pumped some $48 billion into the state economy over the past decade while helping create about 500,000 jobs.

Money Talks: Big Oil & Special Interests Bankroll Anti-Clean Energy Efforts on the Campaign Trail

With a week to go before the U.S. midterm elections, the Center for American Progress Action Fund has released a great interactive map that shows who’s been bankrolling efforts to halt clean energy efforts and back the anti-clean energy reform agenda.  After the U.S. Supreme Court’s Citizens United decision permitted corporations to spend unlimited money influencing elections, the election terrain has become a dizzying display of corporate muscle and dollars.  Perhaps most dizzying is how easy it is for Big Oil and special interests to hide behind benevolent-sounding front groups, and how difficult it now is for us to know whose interests are shaping the elections.

In this midterm election, Democratic-aligned groups have been outspent by an astounding 7 to 1 margin, and Republican-aligned groups have flooded the nation’s airwaves with a flurry of ads.  According to CorpWatch, they have spent over $300 million, five times as much as they did in 2006.

CAP’s stats come from a Repower America report that shows the companies and organizations spreading misinformation about clean energy and climate change.  13 organizations have injected $68.5 million in 2010 alone into fictitious TV ads designed to spin clean energy legislation.  Since August alone, they’ve pumped over $17 million into their efforts. 

CAP’s report offers a state-by-state breakdown of the top donors, and follows the money to the source. And it’s not pretty.  The stakes for a clean energy future are high as oil and coal groups spend more and more helping climate-denying candidates run in tight races.

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