We all make fun of California and for all of it’s physical beauty and diversity there is perhaps too much time spent on Hollywood and it’s “stars” since thankfully they are just humans like you and me.
-Pledging “to obtain a third of it’s electricity from renewable sources such as wind, solar, and geothermal by 2020”
The feeling is that this goal will, “stimulate clean-technology investment, create jobs, improve air quality, promote energy independence and reduce greenhouse-gas emissions.”
California’s utilities seem to be on board with these goals although they did miss similar targets that expired in 2010 but not by much.
California State Senator Joe Simitian said, “he expects the new targets to again boost the state’s renewable energy industry. ‘If we send a clear signal to the market, the market will send investment dollars to California'”
Currently California’s power production profile shows only 2% of power from coal, but 57% from nat gas and the rest from hydro(12%), nuclear(15%) and renewables (14%).
We feel that a massive change in the way industry does things often needs government direction and support. The amount of incentives offered oil and gas producers is well documented. As Mr Obama says we need to direct incentives away from oil and gas and toward renewables.
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portions of this report from the Wall St Journal-vaughni vara and rebecca smith
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