A proposal to delay California’s ground-breaking climate change law appears to be headed to a public vote on November ballots.
The California Jobs Initiaitve, an oil industry-supported group, says it has collected more than twice the number of signatures needed to bring their proposal to a vote.
The group wants to halt enforcement of carbon-reduction initiatives under AB32 until the state’s unemployment rate falls to 5.5%–down from 12.6% currently.
The group is heavily funded by Texas oil companies Valero (NYSE: VLO) and Tesoro (NYSE: TSO).
Proponents of the law say it should be left alone, because it is creating cleantech jobs in the state.
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