The WSJ today points out that: California refutes its own 'green jobs' policy.
Remember when Governor Arnold promised that California’s "cap and trade" law would reduce emissions and create jobs? The Governor seemed to believe you could create something simply by passing a restrictive environmental law.
“A new study by the state's own auditing agency—its version of the Congressional Budget Office—has burst that green bubble.”
The California auditors concluded that cap and trade:
“will raise energy prices, causing the prices of goods and services to rise; lowering business profits; and reducing production, income and jobs."
“Yes, some new ‘green jobs’ will be created. But the ‘net economywide impact,’ it says, ‘will in all likelihood be negative.’ Sorry.”
Gosh. There are actually trade-offs in life. Who knew?
“In November, Californians will vote on an initiative to suspend AB-32 until the state unemployment rate falls to 5.5%. The rate is now 12.6%, the third highest after Michigan and Nevada…”