With the November elections steadily approaching, Proposition 23 seeks to kill California’s cap-and-trade system set to take hold in 2011. The proposition will directly undo the cap-and-trade plans for environmental sustainability in California as a means of seeking economic growth. Known as Assembly Bill 32 (“AB 32”), the plan will now face tough opposition from Proposition 23 and its backers, which include the oil industry. With misinformation and myths circulating to skew public opinion, Professor Matthew Kahn recently interviewed with The American Prospect to clear up the confusion.
“The optimists say the future of California isn’t Hollywood, and it isn’t the military. It’ll continue to be Silicon Valley. But it’ll also be the green economy, and AB 32 could help the state play this leadership role at the forefront of green tech — whether that’s solar, wind, or electric cars like the Tesla.”