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10/25/2010 03:33 PM     print story email story         Page: 1  | 2  

Vote NO on Prop 23 AND Prop 26

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The investor statement says: "We need certainty about the policies that govern the sectors in which we invest so that we can make strategic, profitable investments over the long term. This policy certainty, however, would be eliminated if Proposition 23 passes. It would cause California to lose billions of dollars of investment and thousands of jobs to competitors like China, Japan, Germany, or other U.S. states that have more stable commitments to clean energy policy."

Kevin Parker, global head of Deutsche Asset Management, says the absence of a federal climate change policy makes it even more critical that states build their own frameworks. If Prop. 23 succeeds it could be a signal to other states and the U.S. government to reverse course on climate change policy.  

Some investors are already holding off on making investments because of the uncertainty caused by Prop 23. James Watson, a partner at CMEA Capital, told the Washington Post that his venture capital firm "stopped investing in [California] cleantech eight months ago due to this uncertainty."

Environmentally proactive corporations are also working to defeat Prop 23 through BICEP, Business for Innovative Climate & Energy Policy. Member companies include Levi Strauss & Co., Nike and Starbucks. Bill Gates of Microsoft and Sergey Brin, co-founder of Google have also been active.

And yes, President Obama opposes Prop 23. According to White House spokesman Adam Abrams, Obama calls it "a veiled attempt by corporate polluters to block progress towards a clean energy economy. If passed, the initiative would stifle innovation, investment in R&D and cost jobs for the state of California. And the impacts could affect us all. If successful, corporate special interests will set their sights nationwide."

The Plot Thickens with Prop 26, the "Polluter Protection Act"

Recent polls suggest Prop 23 will be defeated. A Public Policy Institute of California poll finds that 48% of likely voters oppose Proposition 23, compared to 37% that support it. 15% were undecided.  

That's bad news for Big Oil but they're not giving up. They're pouring millions of dollars into passing Prop 26, the Polluter Protection Act, which would effectively kill AB32 by de-funding it.

Prop 26 would amend the state constitution to require a two-thirds majority - rather than the current simple majority - to enact any regulatory fees by declaring them "taxes." The fees cover all kinds of businesses including tobacco companies, alcohol retailers and industries required to clean up their toxic waste. Polluters know it's pretty impossible to get a two-thirds vote. AB32 would be funded by polluter fees - removing them would cripple AB32 and place the burden of cleaning up their mess on taxpayers.

"Prop. 26 would eviscerate the funding of all air- and water-pollution programs, even oil-spill cleanup," says Warner Chabot, Executive Director of the California League of Conservation Voters.

So while everyone's focused on Prop 23, hardly anyone is talking about Prop 26. Big Oil knows this. Interestingly, the Chamber of Commerce didn't take a stand on Prop 23 because they don't want to call attention to the money they're funneling into passing Prop 26.  

If you live in California, remember to VOTE NO on both Prop 23 and Prop 26.


Read Prop 23  

See Who's Contributed to Support & Oppose Prop. 23

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Reader Comments (5)

Earl Richards

Date Posted:
10/25/10 09:59 PM

PROP 26 is just as damaging as PROP 23. Prop 26 is a treacherous, Big Oil rip-off, which "passes the buck" from oil corporation, clean-up fees to the public's taxes, who will pay for the oil recycling fees, the materials hazards fees and other fees. If you do not understand the ambiguities and the intrigues behind Prop 26, then, vote no. Power to the people. BP, Shell and Exxon Mobil are silent partners in Prop 26.


Date Posted:
10/26/10 04:14 AM

Oil companies care about 2 things only 1) profits, and 2) staying in business. They don't care that most of the oil money goes to OPEC. The biggest threat is they are very crafty sales people. They use small snippets like "1 million jobs" and other small points that lock into people's minds. For many people, that's all their minds see on an issue, so they fall for it, and blindly support destructive policies. Let's face it. If the oil companies support it, there is only 1 possible conclusion A) more revenue to oil companies, B) more costs for consumers. Use some common sense people. You're buying their product and increasing their profits if you fall for this. The future jobs are clean energy. How many "jobs" in oil production exist in CA? Very few. Where are the "future jobs"? Obviously, future innovation, like clean energy. Good lord, do California people want cleaner air?


Date Posted:
10/26/10 04:27 AM

The troubling paradox of these sales jobs is the Prop 23 backers will actually DESTROY JOBS, they are claiming to "save". There will not be future jobs unless there is innovation. If California expects to prosper, innovative areas are the only way to "create" new things to sell, and jobs to make it happen. It's the same argument decade after decade. They must keep polluting more to "keep jobs". The jobs they create will be in the medical industry feeding off the sickness their pollution creates.


Date Posted:
10/26/10 04:33 AM

The other jobs they create might be a necessity of defense. The billions we send to OPEC each month just sucks the life out of us from the addiction to petroleum. The terrorists OPEC supports drain our resources in many other ways, and threaten the very lives of American men and women. The people who need to hear this message do not read this forum. We must find channels to send these messages where it reaches the masses who fall for the passive simple messages like "politicians" "tax" "higher prices" "saves jobs". It's a clever sales job. The people crafting these messages would sell out everybody else to make another buck, and they're already filthy rich.

Christophor Faust

Date Posted:
10/26/10 04:56 AM

We are at a dangerous crossroads in this country where those that would create new futures, versus those who pretty much control everything dark today, have become dependent upon those who really don't seem to care. Maybe this is “the way it’s suppose to be”, but if Prop 23 and/or 26 pass in CA, it would be a major victory for those dark forces who control States like mine here in Louisiana. One can only wonder if the Gulf oil spill happened in Carmel, Big Sur or Morrow Bay, if CA would feel differently about what is happening right now, where our State and Federal Governments both content those 185,000,000 gallons of oil spilled into the Gulf simply disappeared! There is nothing to fear from eating Gulf seafood? Eco Tourism, who needs it? Solar energy, who would buy 25-years of energy today, when all he needs is enough for tomorrow anyway? All we know for sure is that BP and the big oil companies are willing to spend $100's of millions on PR campaigns, and almost nothing to revive a dead economy after they killed it. Please don’t let this happen in California clean/green tech industries too.

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