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A coalition of Texas-based oil companies have contributed 72% of the nearly million-dollar sum raised to pass a ballot initiative that would shelve California Assembly Bill 32, a landmark greenhouse-gas emissions law. The largest donor is San Antonio-based oil company Valero. Valero has donated more than half the money raised to fund the collection of approximately 434,000 signatures needed to put the initiative on the ballot. The proposed initiative would suspend Assembly Bill 32 until California’s unemployment levels drop to 5.5 percent for at least a year. With the current unemployment rate at a record 12.5 percent, the proposed initiative could delay the law’s passage by 10 years or more. The California law is the most progressive of its kind in the nation. It aims to reduce emissions of greenhouse gases by 15 percent by the year 2020, and would use a variety of tools to do so. These include a controversial regional cap and trade system involving a moderate tax on gasoline and other fuels, and that would provide further incentives for the production of alternative energy. The law also promotes greater efficiency in green building and transportation systems. Assembly Bill 32 was successful in garnering bipartisan support, and was signed by California Republican Governor Arnold Schwarzenegger, who has stated that the climate change law is a salutary achievement of his administration. Last month, Schwarzenegger admonished the petition drive, saying the “greed” of “Texas oil companies…coming to California and trying to change laws and policies…is outrageous.” The development of clean energy alternatives represents the fastest growing sector of California’s economy.

GUEST: Robert Cruickshank, Public Policy Director of Courage Campaign, writes for Calitics.com.

Find out more at www.boycottvalero.com.