| Business groups seek to suspend Calif. climate law |
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| CARB Updates & News | |||
| Tuesday, 04 May 2010 06:30 | |||
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By SAMANTHA YOUNG, Associated Press Writer Sacramento, Calif. (AP) -- A coalition of business groups turned in signature petitions Monday for a ballot initiative that would unravel Gov. Arnold Schwarzenegger's top environmental priority. If the California Jobs Initiative qualifies for the November ballot, as expected, voters will be asked to consider putting the brakes on the nation's most far-reaching global warming law. Schwarzenegger immediately blasted "greedy oil companies" for trying to set back his sweeping environmental policy. The 2006 law, known as AB32, seeks to reduce greenhouse gas emissions in California and imposes new requirements on power plants, manufacturers and other businesses. A number of business groups warn that regulations needed to enact the law would cost jobs and prompt billions of dollars in higher energy prices. John Kabateck, executive director of the National Federation of Business California, said that's a cost businesses cannot shoulder as they struggle in a weak economy. "While the goals of AB32 are admirable, clearly the implementation of this at this time ... would be a death knell for many small businesses," Kabateck said at a news conference. The initiative would delay climate regulations until California's unemployment rate _ now at 12.6 percent _ drops to 5.5 percent and stays there for a year. That's only happened three times in the past three decades, according to California Employment Development Department statistics. Economists expect California's job recovery will be slow. "That could be a really long way off," Brad Kemp, director of regional research at Beacon Economics, said of the 5.5 percent benchmark. "It's like saying we have to get to full capacity before we can even begin to consider this." Kemp has forecast the unemployment rate will still exceed 8 percent in 2015
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