Posts

Showing posts from October, 2010

23 to suspend 32

The title means that "Proposition 23 is being debated in california State to suspend Assembly Bill 32" !!
What big deal??one may ask
Assembly Bill 32 (AB 32) was enacted in 2006 in the state of California to implement tighter regulations on green house gas emissions and hence more opportunities for renewable energy, incentives for R&D in that sector etc. It had a vision 2020 to reduce GHGs below a certain level. It also mandated 33% of electrical consumption from renewable energy sources.
But now, due to the very high level of unemployment hovering around 12%, a new proposal (Proposition 23) will be voted next week, to suspend AB32 till the unemployment figures reduce below 5.5% for a continuous span of 4 quarters!!
Note: Since 1970, the state of California had only 3 instances of continuous unemployment rate of less than 5.5% for a continuous span of 4 quarters...
This proposal would ensure that California will have lesser regulations on green house gas emissions for the nea…