Californians Air Board 32 (AB 32) is legislation that caps carbon in California and mandates emission reductions. Green jobs in California have grown at a steady clip from 1995 – 2008, with green tech businesses growing by 45% and green employment by 36%. The state of California has sent such a positive and consistent message that California will help nurture green investments, that it attracts 60% of all clean-tech in vestments in the US. 5 of California’s cities are amongst the top 10 clean tech investment cities, while 7 of the nations top green firms are based out of California too.
Apparently TX oil is rumored to be trying to thwart AB32, but I wonder if State’s rights or the Interstate Commerce Clause trumps here. CO2 could be considered a toxic substance on a global scale, so I could see why California has the right to regulate it, but big oil is no cupcake, has put up some very nasty fights in the past, but I think this year is not looking to favorably on oil considering the oil spills and the endless tar sands ecological catastrophe (and consistent media attention off the tube). 2010 is a big year for a greener China, as it has just surpassed America this year in both total green investments ($34.6b to $18.6b) and smart grid investments at $7.3b / $7.2 billion. The Golden State is still recovering from a budget crisis, and it would be a shame if TX pushed California under the Green Chinese bus storming through town this year, by sending a signal to efficiency investors (that’s what green/clean tech. often is) that their money is more safely invested in China. TX legislature will be interesting to watch this year.
[i] Agence France-Presse. “China overtakes U.S. in green investment.” Reprinted by Mother Nature Network.
Mar. 25th, 2010
[i] Siegel, RP. “China Now World Leader in Smart Grid Investment.” Triple Pundit- People Planet Profit
February 8th, 2010.