Proposition 10 would authorize the sale of $5 billion in bonds to fund renewable energy efforts. 58% in cash payments of between $2,000 and $50,000 to purchasers of certain high fuel economy and alternative fuel vehicles; 20% in incentives for research, development and production of renewable energy technology;  11% in incentives for research and development of alternative fuel vehicle technology;  5% in incentives for purchase of renewable energy technology;  4% in grants to eight cities for education about these technologies; and 3% in grants to colleges to train students in these technologies.

Columnists Dennis C. Smith and Daniel Brezenoff weigh in on Prop 10 today.

Dennis C. Smith

Prop 10: Alternative Fuel Vehicles and Renewable Energy Bonds.  Initiative Statute.   Authorizes $5 billion in bonds from General Fund to help consumers and others purchase certain vehicles and to fund research in renewable energy and alternative fuel vehicles.  “..and others..” Who are “others.”  I cannot believe we are looking at subsidizing people buying Priuses.  Once again let the private sector figure out what works best and what consumers are willing to pay.  My vote is No on Prop 10.

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Daniel Brezenoff

What it does: Gives just under 5 billion in bond money to “clean fuel”, which seems to mean, mainly, natural gas, and “any fuel that achieves at least 10-percent reduction in carbon emissions when compared to petroleum-based fuels,” ie: (in an open market) natural gas.

Pros: Less carbon in the air compared to now, maybe. More likely, a slowing in the rate at which carbon emissions increase, as has been the trend.
Cons: More carbon in the air than better legislation would prescribe. That is, this bill is soft.

How I’m voting: No.

This bill is widely opposed and enjoys little political or grass root support for a reason: it’s a boondoggle give-away to natural gas interests.

Will it pass? I think not.

Trivia: Under this bill, the California treasury would indirectly subsidize a right-wing Texan tycoon.

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