Even though voters turned out in force to reject the oil company-led effort to repeal California's pioneering climate law, many folks still don't know exactly how it works. There are a bunch of misconceptions lingering in the air, and thankfully, GreenBiz has gone to considerable lengths to clear 10 of the most common ones up. Here's a snippet:
Q4: ... isn't this going to kill jobs and hurt California's already struggling economy?To have all the misconceptions debunked, see Green Biz.
A: Quite the opposite. Clean energy is the fastest growing sector of California's economy, growing 10% since 2005. Clean energy policies like cap-and-trade send a steady signal to the market that California is the place to invest in innovative new businesses that bring jobs to the state. So far, that signal has been working: California annually attracts more cleantech investment capital than the rest of North America combined and has brought in $11 billion since AB 32 passed in 2006, creating thousands of businesses and jobs in its wake. By placing a price on carbon, this newly adopted market will maintain California's competitive advantage in the global push for clean energy.