The voters’ decision on Proposition 23 could have global implications.

Prop 23 would suspend the state’s global warming law. Its passage 2-years ago is seen as Governor Schwarzenegger’s greatest accomplishment. It requires that the state’s greenhouse gas emissions by cut 25 percent by 2020.

If Prop 23 passes, the law would be suspended until the state’s jobless rate drops below 5.5 percent for more than a year.

The two Texas-based oil companies behind the initiative – Valero and Tesoro – argue that the proposition makes sense in tough economic times.

The League of Conservation Voters contributed $1.2 million to the “No” campaign, calling the vote “the single most important race in the country.”

The league warns that if Prop 23 passes, “dirty-energy interests will ramp up their efforts to stifle new energy policies in Congress and other states,” and touch off a domino effect that could be felt world-wide. (Source: Christian Science Monitor)

Story Date: October 27, 2010