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Romney, Bain, and Me
August 31, 2012 | 56 comments
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The Economics of Settlement
June 8, 2011 | 116 comments
What was once the indispensable state is now an asylum of decline that threatens to drag the rest of America down with it.
CALIFORNIA’S TREASURER BILL LOCKYER has a bridge he wants to sell you. No, he is not putting the Golden Gate on the market. That would actually find buyers. He is trying to foist a “bridge loan” on the country that in effect would require us to buy the entire state.
Shuffling off the streets of Sacramento into the bond market a few weeks ago seeking to raise some $14 billion in so-called “revenue anticipation notes,” Lockyer is offering notes that can be repaid only by future revenue anticipation notes, in a delusional statewide recycling binge of bonds on bonds.
Since the state at the same time officially projected $20 billion annual deficits for the next six years (Governor elect Jerry Brown says $28 billion in 2011), the end of this road is another of those bridges to nowhere that politicians believe stimulate an economy but ordinary people prefer not to drive on or off. So now Lockyer is following up with a drive to get the federal government to guarantee California’s debt against default, which means the taxpayers will have to be the ulti-mate buyers.
Before we close the deal to purchase the state, however, ordinary financial due diligence would require Congress to make California rescind a “poison pill” provision in its state laws. This poison pill is not medical marijuana. But it renders any bridge loan or “revenue anticipation note” utterly hallucinogenic.
Unrecognized by most media, conservatives lost miserably in what may have been the most consequential election on November 2. This was the California referendum to repeal Assembly Bill 32, the so-called Global Warming Solutions Act. Passed in 2006, AB 32 ordained that the state economy be ratcheted back to 1990 levels of so-called greenhouse gases by 2020, a 30 percent drop, and mandated an 80 percent drop by 2050. Together with an unsustainable $500 billion public pension overhang and $28 billion current budgetary shortfall, the effort to cap all energy production dooms the state to bankruptcy.
Although conservative pundits have lavished disdain on this California political potlatch, California is the nation’s most important state, dominant in the innovation, manufacturing, and enterprise that make the U.S. economically and militarily supreme in the world. Perhaps two-thirds of the nation’s new technology originates in the state or is financed by its venture capitalists. California cannot go down the drain without inflicting serious damage on the rest of the country.
THE IRONY IS THAT the general trend of advance in conventional “non-renewable” energy for a century — from wood to coal to oil to natural gas and nuclear — has already wrought at least a 60 percent drop in carbon emissions per watt. In the words of natural gas pioneer Robert Hefner, “As man travels down the energy path from solid wood and coal to liquid gasoline and to gaseous natural gas and hydrogen, the progression is one of carbon heavy to carbon light; from complex chemical structure to simple; from toxic particulate emissions to no particulate emissions; and finally, from high CO2 emissions to no CO2 emissions.” Thus the long-term California targets might well be achieved globally in the normal course of technology advance. Unlike the existing bonfires of ingenuity and money, moreover, an organic advance of energy efficiencies can readily propagate around the world without mandates and subsidies.
The obvious next step in this positive energy evolution is aggressive use of the several trillions of cubic feet of low-carbon natural gas, enabled by new horizontal fracking techniques, that have been found in the U.S. over the last two years. These discoveries have essentially ended the “energy crisis” in the United States.
This hugely promising breakthrough, though, collides with the massive vote against repeal of the California green law — 62 to 38 percent — which gives a patina of public support to an economy-crushing drive to suppress CO2 in natural gas and everything else. Already mounting a scare campaign against the new natural gas extraction methods, California Democrats apparently expect to pass on the huge costs of their policies to the rest of the country in a reverse gold rush on Washington.
Masking the bailouts for the state will be subsidies for green jobs and stimuli for politically oriented R&D, provisions for so-called “feed-in tariffs” for nuisance energy suppliers and boondoggles for a “smart grid” that can adapt to dumb and erratic power (but is more complex and vulnerable to sabotage). Eventually there will have to be a costly environmental cleanup for the dilapidated toxic wreckage of windmills and solar panels (replete with lead and cadmium). When all these efforts to save California fail, the last resort will be a debt-withering siege of inflation that depreciates much of the nation’s remaining wealth.
IN A PARODY OF THE supply-side economics of creative destruction, advocates of AB 32 envisaged the usurpation of existing fuels with alternative energy sources that create new jobs and industries. Thomas Friedman’s Hot, Flat and Crowded is the bible of this delusional sect, which has lamentably captured much of Silicon Valley. This economic model sees new wealth emerge from dismantling the existing energy economy and replacing it with a medieval system of windmills and solar collectors. The problem with this strategy is that its destruction of the old energy system does nothing whatsoever to enable a new one. By this logic we could all get rich by razing the existing housing plant and replacing it with fancy renewable tents.
All the so-called “renewables” are more costly, environmentally destructive, and inefficient than the existing energy infrastructure. They waste and desecrate the precious resource of arable land that feeds the world while banning the abundant subterranean troves of fossil and nuclear fuels.
The Greens, led by Amory Lovins and Al Gore, retort in an indignant chorus that non-renewables, such as oil and gas and nuclear, receive far more government subsidies, some $73 billion in 2008, than the $29 billion received yearly by the new green alternatives. But much of the so-called subsidies for conventional energy are not subsidies but deductions for tax payments already made overseas. In any case, the conventional energy companies, unlike the renewables, make vast net tax contributions while, also unlike the renewables, supplying 98 percent of the nation’s energy.
Even accepting the nonsensical idea that tax deductions and depletion allowances are a governmental bonanza for “dirty fuels,” the direct subsidies per watt are roughly 20 times greater for the renewables. Meanwhile the CO2 suppression caps and mandates represent a confiscatory new tax on all conventional energy sources. All the accumulating environmental litigation and laws pose an insuperable barrier to innovative new nuclear facilities.
The chief so-called renewables that the Greens believe can replace oil, gas, and coal are wind, solar, and biomass. All tend to cost more energy to produce and transport and adapt to the power grid than they yield in new power. Windmills, for example, not only deface the environment but they are too erratic to supply reliable base power and thus require non-renewable backup. As venture investor and engineer Andy Kessler has calculated, the inefficiency of alternative sources means that every dollar of new wages for green workers will result in at least a dollar-fifty of reduced pay and employment for the state’s other workers. The damage, sadly, will not be confined to California but will also displace and impoverish workers across the country.
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The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
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Was the President done in by the economy, or by the politics of the economy?
H/T to National Review Online
saleboter| 2.16.11 @ 6:26AM
Time to invest in power plants in states that border CA. They will be booming with business in a few years
ENOUGH ROPE| 2.16.11 @ 11:57AM
Thank you Mr. Gilder for brilliant analysis and solutions.
Why have we citizens allowed our country to be undermined by politicians and interest groups that seek the reduction of our freedom to gain power, wealth, and privilege for themselves? Their altruisms are deceptions to achieve their above goals. Why do their deceptions work?
Pursuits of pleasure and the demands of earning a living are the usual suspects identified as the roots of our ignorance and indifference which forfeit our freedoms. Could there be other suspects?
Could the loss of our spiritual unity and cultural unity be root causes? If they were the causes, it is unlikely that a reawakening of our Judeo-Christian worship and a reawakening of the true transmission of cultural history would occur quickly enough to counter the dark forces of tyranny over us.
We can make a beginning to regain our worship and our knowledge of our culture. How? Solutions have been explicated by pious religious leaders and by religious based educators. A major problem is the domination of our education by government which uses its power to advocate its interests which are hostile to Judeo-Christian values and to America's founding culture that our individual rights come from God instead of the State.
How do we change America for the good? Each of us can start praying that we increase our love for God and our neighbor. We can advocate school choice to end the monopoly of public education. Pray, trust in God, and work for the good by becoming alert and active citizens.
mames| 2.16.11 @ 4:54PM
I began following the insight of Mr Gilder back in '97 (sound like an old gummer, I know) when he did his legendary work in the area of communications. He was way ahead of the pundits then and his scientific approach trumps the anti intellectual greenies here as well. Lets drill for that oil, suck out that natural gas and get frankin'. :) Thanks George, we need you out front on this one.
Redstateboy| 2.16.11 @ 2:34PM
"California cannot go down the drain without inflicting serious damage on the rest of the country." What utter BS!! Forget the Free Market? Capitalism?? If CA. isn't Business friendly that business can and IS moving to other States that are.. let CA. crash. The World needs another lesson in the abject failure of Liber-ulism.
Bill Hussein O'Stalin| 2.16.11 @ 6:31AM
This should have been two articles.
The USA should not buy their bonds or bail them out.
Your comments on energy are dead on and should be taught in every public school.
As far as California, many of the big companies have already left, so I question your analysis that their bankruptcy would send shock waves through our economy.
The citizens there are dolts and need a hard lesson. Perhaps one is coming.
Appleby| 2.16.11 @ 7:13AM
Ditto -- stand back and let it crash. If your kid spends her entire paycheque on shoes, she has no groceries or toilet paper for two weeks, and the next time she will, you may hope, stop and think. Make California live by its laws and maybe they too will stop and think.
Even if they do not, it ought to make a hell of a show.
loulou| 2.16.11 @ 12:03PM
Except that WE are going to have to bail these idiots out.
Old Soldier| 2.16.11 @ 1:42PM
Nope. Let it burn.
Stammon| 2.16.11 @ 2:31PM
Yes, let it burn.
My wife and I left California to live and raise our children in Indiana. California can have "Moonbeam", we have Mitch.
Curtis Rasmussen| 2.16.11 @ 3:35PM
Some of us have little choice but to go down with the sinking ship.
I have worked in the renewable field. Companies start out with great ideas, but their theoretically rosy projections inevitably run up against the harsh reality of business. These companies cannot operate without federal subsidies to them or their customers because the energy produced is so expensive that none would buy it. After reviewing the numbers for key parameters such as manufacturing expense, one could almost panic.
This is where the state and federal mandates come in. If no one will buy it willingly, then write laws to force them to do it. Get rid of the mandates and only the most robust companies, if any, would survive. Al least that would be better than dozens of rent seekers.
Occam's Tool| 2.17.11 @ 6:36PM
I was trained in psychiatry at UCLA from 1989-1993. I knew I was leaving following the riots of 1992: 1) I couldn't break into the housing market with a home of my own on an income of several hundred thousand a year (in a decent neighborhood) and 2) I knew the California society was beyond redemption. Second smartest thing I ever did (smartest was marrying The Boss).
RCV| 2.18.11 @ 12:24PM
My undergraduate alma mater (65-69). How anyone could leave the Hills of Westwood is beyond me.
Retarded Cancerous Virtues| 2.19.11 @ 2:18PM
I don't bother with silly doubts about my positions on trivial issues like abortion, the constitution, and social justice where living like cockroaches in a polluted, earthquake-wildfire-mudslide-riot prone, epicenter of smut production, english as a second language, loonie nutbag infested location matters are concerned.
Eric Cartman| 2.16.11 @ 9:29AM
Has anyone instructed the Republican "leadership" in the fine art telling states like California to "Go to Hell" while making it sound like good, friendly advise? Reagan had many ways of doing t, all the while smiling. They should practice his style now for the inevitable begging later.
And to Mr. Gilder, I have to respectably disagree on the importance of California. Those companies that agree with these asinine policies can stay an pay the cost. The others who want to practice good business, welcome to Texas . . or Oklahoma . . . one Arizona . . .etc. California is not as important as they think they are. Sorry George, let them sink into their self induced coma. I suggest a Do Not Resuscitate order.
For my part I say: "Oh, you guys need money? Well, good luck with that. I hear Mexico has cheap loans."
Phil Suckalewski| 2.16.11 @ 9:54PM
The people of California will soon learn the difference between "wants" and "needs".
Even if I wanted to help bail them out (which I do not), we do not have the money to do so. For even though California "only", cough-cough, has a $100 billion projected shortfall for the next 5 years - the cascade of other states, and then counties and cities that would stampede to the Federal gov't for a bailout will make Obama's $1.6 trillion 2012 deficit look like chump change.
MoeBlotz| 2.16.11 @ 7:41AM
Cahleefawnya (A little Governator lingo there) is also attempting to destroy our commercial transportation system. The Golden State has already mandated restrictions respecting the age of refrigeration units on the trailers that haul produce in and out of the state. Next to come from CARB is retrofitting big trucks with the power sapping particulate traps necessary to meet the federal EPA rules intended to create a zero emissions vehicle. Already small truck operators are not permitted into California ports with a truck powered by an engine manufactured before 1997. Industry advances in technology have enabled diesel engine manufacturers to improve the performance of their engines,yielding greater fuel economy and lower emissions. EPA regulations since 2007 have further reduced particulate emissions,but the engines burn more fuel over a given distance and durability is questionable. Regardless of federal and CARB intervention,our trucking industry is the world standard.
Bob K.| 2.16.11 @ 8:36AM
"Already small truck operators are not permitted into California ports......." --- Except for the small truck operators who are "undocumented" aliens--you forgot to add.
MoeBlotz| 2.16.11 @ 9:05AM
I referred to trucks being restricted based on the engine,no matter who drives.
Paul Clare| 2.16.11 @ 7:51AM
Thank you for this excellent and well reasoned article!
Firstly, I strongly believe that the U.S. Gvt should NOT bail out any state or local gvt. PERIOD! We do not have the money to do it, we need to be bailed out ourselves.
California needs the money? let them go into austerity as NJ and others have done.
End of story!
MikeD| 2.16.11 @ 8:00AM
Every day it is more and more evident that the total intelligence of the U.S.A. is a constant, while the population is increasing, especially in those areas with the most ridiculous politics and even more assinine voters. That there are so many really stupid people in our Country, seemingly concentrated in California (The land of fruits and nuts) that we may already be beyond hope.
The problem may have become so widespread, and complicated, that there really are no solutions but the terrifying obvious; conflict, violence, secession, civil war, etc... I really think that too many Americans are just not paying attention or are to deeply involved in just getting food on the table, thanks to barry and his dems' policies and criminal actions.
Find a very deep hole and hoard what you can for the day our money is not worth the paper it is printed on. May God help us; we seem incapable, or just unwilling, to save ourselves.
Ken (Old Texican)| 2.16.11 @ 8:57AM
Mike D
Making arrangements for a "rainy day" is not "hoarding".
I recommend the Mormon food storage program. Tried and proven! .22 cartridges too of course for small game and or the neighbor's cat.
Also Coyotes are edible as well.
MikeD| 2.16.11 @ 3:03PM
Ken,
As usual, good advice. I'd add one thing; when hunting 'varmints', a higher power weapon and ammunition may be required; like maybe a .30 calibre or larger. We are certainly getting over-run with varmints...
Melvin| 2.16.11 @ 8:12AM
I used to live in the Pacific Northwest. And before, "Green," became a catchphrase for the environmental Communists we practiced common sense environmentalism.
Now, I can only speak for Oregon up to 1979. During that time we received our electricity from generators from the hydroelectric dams that were constructed along the Columbia River. There was one nuclear power plant that was also located on the same river, that had zero safety issues as long as it was in operation.
But, my family says that the environmentalists demanded the Nuclear power plant be demolished and removed and the area turned into a park and I'll be damned, they demolished a gazillion dollar nuclear power plant right down to the last bit of concrete.
The same environmental communists also wanted the hydroelectric dams to be removed as well to allow the Columbia River to return to it's natural state, but smarter people intervened and the dams are their producing quiet, environmentally friendly electric power.
The point of this is that Oregon sold much of the excess power to California, and if memory serves me correctly California had a number of hydroelectric dams as well. But the environmental Communists down there were much more aggressive in getting electric power generating facilities shut down.
You it is odd that there are green ways to produce electric power, but the environmental Communists don't want that either.
C. S. P. Schofield| 2.16.11 @ 1:20PM
I first became interested in politics at about 15, in the mid-1970's. One of the first truths I observed had to do with hydro-electric power. In the early to mid-1970's environmentalists were vocally wildly in favor of hydro-electris power. Then along came poor Jimmy Carter (The Man Who Couldn't Do Anything Right) who (I seem to recall) actually proposed to build a number of hydro-electric dams. And all of a sudden, hydro-electrid was out of favor with the Right People.
In the years since, this pattern has been repeated to the point where I can propose as a Law of political activism; "Proponents of 'Alternative Energy' are never really in favor of any power generating technology that is in an real danger of being put into wide-scale use."
justasimplepatriot| 2.16.11 @ 9:47AM
No bailout for California. I could not agree more. Unfortunately, that will not prevent the meltdown from impacting you - no matter where you live.
In 2008, California represented 13% of the US GDP. A fiscal collapse will reverberate nationwide and worldwide. Unfortunately - I see this as a "when" not an "if".
Steve A| 2.16.11 @ 10:13AM
Forget Mexico, we need a border fence with California. You get 1 month from today to leave. Everyone else stays, erect the fence, open the CA border to Mexico, cut out all government funding & let Jerry Brown have a windmill party. Let's see what happens.
RCV| 2.16.11 @ 12:40PM
Steve, you'll be begging to come back in in no time. In the meantime, we'll embargo you from all technological advances, movies, television and the other creative benefits we provide the rest of the country with. And we'll stop subsidizing the red states through our federal tax funds as we've been doing for the last twenty years.
Steve A| 2.16.11 @ 2:36PM
RCV, You have a deal. I swear to you, as I was typing up my proposal I said to myself, "self, you need to type in an RCV escape clause," as I recalled you were a CA guy.
Now, admittedly, you all have & still do produce some excellent, quality goods (mostly technology & wine) & my life would be of less quality if I had to sacrifice these. However, you have officially left the reservation in terms of managing your fiscal policy due to "liberalenomics." what I am really saying is solve your own budget problems & don't stick your hand out for the rest of us to ante up.
skip| 2.16.11 @ 2:38PM
Return of the
Contemptible
Vomitus!
I forgot all about the Soros mandated rule all instigators had to serve some time as documentors every once in a while.
Oh well, the break was good; as the saying goes all good things come to an end.
ggswede| 2.16.11 @ 3:03PM
RCV,Are you stating Ca. is the only place that can develop technological advances ? Got news for ya,the companies that are located there do these things, not the state.Wonder why so many of those companies are now relocating their think tanks elsewhere ,could it be that the next generations are not up to educational standards ?
Redstateboy| 2.16.11 @ 3:25PM
RCV? ok... agreed.
Occam's Tool| 2.17.11 @ 6:43PM
I'm happy with my old DVDs, most of which are made in China. Medtronic here in Minnesota makes the cutting edge medical devices, and we have a little clinic called Mayo, as well.
Amazon is in Seattle, so my books will be safe. And I don't drink....wine. (Mwa ha ha)
But I'll miss you, RCV. You're actually nice, if misguided ;). A hell of a lot more fun to spar with than you know who. You're welcome in the Twins anytime for a Juicy Lucy.
RCV| 2.17.11 @ 7:01PM
Minneapolis/St Paul is actually one of the few major cities in the US I've never been to. But if I have cause to visit -- like I run out of ice for an Oscar party or something like that -- I promise I will get in touch. I'd enjoy very much having a live civilized conversation with you over dinner. You are indeed a gentleman.
skip| 2.18.11 @ 1:33AM
OT
If you need wine Michigan next door has plenty of vineyards and they are winning a stunning amount of awards too.
RCV| 2.17.11 @ 2:01PM
GGswede: Of course, it's Californians not California that produces innovations. But we Californians are attracted here by the spirit of innovation and creativity that has a critical mass here. It is a collection of people that value individual merit, tolerance for diversity and creativity. Yes, we could move elsewhere, but we don't want to. And those Californians who do move are not those creating and producing.
Steve - on a serious note, I think you will be surprised how seriously we are addressing the fiscal problems that the national economic crisis brought to our state. Those outside of California don't appreciate what a stingy cheap guy Jerry Brown actually is, and we know that's what we need at this juncture. Stay tuned. The Big Orange lives.
MikeBee| 2.16.11 @ 10:18AM
What really will happen in California, if the state declares bankruptcy? Let's see: 1) a lot of unnecessary government workers will not receive paychecks anymore, and will be out of work; 2) the people of California will see a severe decrease in the amount of taxes owed to the state, as it will be shut down; 3) the people of California will live with fewer services provided (but now can afford to pay for these services, like trash pickup, road repair, etc., themselves); 4) some people in this overpopulated state will relocate to neighboring states; 5) as the state government can no longer afford to enforce its environmental statutes, the people of California will be freer to work and produce. Hmmmm. Lower taxes, fewer regulations, no one forcing you to use less water or to stay off some land -- sounds like a boon to the economy, and to corporations.
Given the above, I say shut the state down. Let it declare bankruptcy. All government union contracts will be canceled; all government agreements to spend $$$$$$ on environmental matters will be canceled; power production will be returned to the power companies. Definitely do NOT bail out California. Companies who are affected immediately by the lack of energy (as CA owns all energy production and distribution in their state) can relocate to Arizona, Nevada, Texas, or elsewhere, creating better economies in those states. Location of venture capital will not affect venture capital at all. In fact, venture capitalists may find that they have a greater return on their money in lower tax states.
Mr. Gilder decries the fact that venture capital which comes from CA companies could be affected by a state bankruptcy, then writes on to note that most of those CA venture capital companies are now wasting the capital they have on renewable sources of energy. Sounds like a good reason to shut the state down, if the VCs wish to waste the capital resources they have in their trust.
justasimplepatriot| 2.16.11 @ 10:33AM
Unfortunately, the tens of thousands of retirees with California muni bonds will be devastated and the failure to pay for goods and services already rendered will drive many companies into bankruptcy. On the one hand, I relish the thought of the air-headed Californians reaping the whirlwind of their fiscal irresponsibility but many good, responsible citizens will be hurt.
Appleby| 2.16.11 @ 10:45AM
That's life, isn't it?
Old Soldier| 2.16.11 @ 10:53AM
No responsible investor is buying CA muni bonds right now. A roulette table would be more responsible.
L. Ross| 2.16.11 @ 1:23PM
I do feel that California MUST declare bankruptcy. It's not a matter of if, but when on the issue. The sooner we get it done, the sooner we can get back to governing the state in a responsible fashion.
MikeD| 2.16.11 @ 3:10PM
How can you say that, and believe that the state could EVER get back to fiscal sanity? The majority of the morons who voted re-elected gov. moonbeam. 'nuff said. California now, and the rest of the states (if forced to bail out the land of fruits and nuts) will be next to go under. The average American has become either too stupid; or too desperate feeding his family, to make any difference. Regardless, we're toast unless something drastic get through to the GOP because the democrats are just too far gone to do anything useful. The first 60 years of my life were wonderfully optimistic; the past three have been a journey into dispair.
ray bob| 2.16.11 @ 10:29AM
let them sit in the dark without their precious internet.
Old Soldier| 2.16.11 @ 10:50AM
Maybe they can install a few thousand stationary bikes to power their server farms. Not sure how they will handle the exhaled CO2 from this plan.
Sam Levi| 2.16.11 @ 11:23AM
Maybe I am just not smart enough; but it seems to me that CO2 only becomes a problem if there aren't enough plants to "breathe" it. Now, I'm no tree hugger, but I beleive in reclaiming land after it has been used. You want to reduce CO2? Grow more plants, preferrably edible, and quit killing the economy with Eco-Terrorist tactics.
ggswede| 2.16.11 @ 2:50PM
With the costs of produce going through the roof, I can't believe the thousands of acres of rich farmland going to waste.All over a little fish thats not even native to the area.Thanks to Boxer.
Kelly Staples| 2.16.11 @ 11:43AM
All the best nuts come from California.
ggswede| 2.16.11 @ 2:57PM
Not Boxer or Pelosi,they're from New York. Wish they would leave !
Mike Hawk| 2.19.11 @ 8:54AM
Stretch Pelosi is from Balimer (Baltimore to the rest of us.) Her ol' man was mayor and Stenny Hoyer is an old school chum of hers.
Yosemeti Sam| 2.16.11 @ 11:54AM
Sad indeed.
That Conan the Barbarian was out-babarianed by the Kingdom of Leftoids in Mexifornia.
GW| 2.16.11 @ 12:14PM
To further highlight the insanity of Californians, consider this. "Climate change" or "global warming" (if true, which it isn't) is not a regional environmental issue. If what Algore claims will happen, happens, California's slight reductions in GHGs will only help the environment
GW| 2.16.11 @ 12:16PM
...by less than .001%. GHGs are going to increase in China, India, the rest of the US, etc. Do the people who see jobs leaving the state of California not get this?
figusja| 2.16.11 @ 12:18PM
Don't worry when the smart investors see the righting on the wall, they the investors will leave by the droves from CA. When CA falls it will be the wake up call for those of us who are really watching this disaster unfold.
L. Ross| 2.16.11 @ 1:28PM
One point of disagreement I have with the author, George Gilder. Green power production doesn't use much land. Here in California, if there is a solar plant, it is usually a parking lot covering, or placed out in the high desert where it rarely rains, and elevation is raised, increasing solar effectiveness. Regarding windmills, again here in California, they are located near mountain passes, but even if they were in the great plains, there is no reason you can't grow crops under a windmill. As to whether they are an eyesore, that is up to individuals to decided. I like 'em.
Not saying we can run the future on this stuff, but people weaken their case when they don't get their facts straight.
Old Soldier| 2.16.11 @ 1:51PM
Old power takes up little space too.
Back before I fled CA, we used to go to a park off of S. La Brea Ave in Los Angeles. It was fun to watch the oil pumpjacks bobbing for oil. I'm shocked they are still there unless the Bing maps picture is out of date.
RCV| 2.16.11 @ 2:00PM
There's still an oil pump working on the grounds of Beverly Hills High School as well.
ggswede| 2.16.11 @ 2:54PM
Have you investigated the hazardous materials needed to make solar panels ?
timmah| 2.16.11 @ 2:03PM
Dear Bill Hussein and others,
Not everyone in Cali is an idiot, we are just greatly outnumbered by them. This article is brilliant and should be required reading for people in other states as a warning and an illustration of what happens when "liberals" hold sway in education, politics, and the dominant media. California is important, it has been the Golden Goose for years, but the radicals have tied her tubes, put her in a stress position and denied her water. I weep for my once-proud State ruined by greed, neglect and all the tenets of Statism,Socialism, and Modern Liberalism.
ggswede| 2.16.11 @ 2:52PM
YOU GOT THAT SOOOOO RIGHT !!
Impeach Don't Wait| 2.16.11 @ 10:29PM
Someone once said nobody feels the pinch, that's why no change. And that's true. People will keep voting as they do until the pain comes. I sit at a comfortable job in a company that's doing well, and live in a home that's paid for. Not rich, but life is about the same as it always has been. I suspect it's much the same for a lot of Californians.
Now, should there be no food on store shelves, and the cost of gasoline rise out of reach, and they start messing with Prop 13 to increase property taxes beyond my reach.... I do worry. A coworker says we'll end up like Greece, rioting in the streets.... When that happens these folks will suddenly realize who they've been re-electing all these years.
But for now... life's a beach.
Sad.
JmsA| 2.17.11 @ 8:24PM
I couldn't agree more, timmah.
Nite| 2.16.11 @ 2:08PM
The environmentalists have nearly destroyed the jobs market in California. Shutting off the water to the Central valley because of the smelt (bait) fish has created an unemployment rate of close to 40%. This is one of America's bread baskets to provide food. Using corn for ethanol is another stupid move. Energy, food, housing, and services plus taxes, makes it difficult for people to live there. A lot of businesses have moved to more friendly states. The powerful unions in CA is destructive situation.
Searcher| 2.16.11 @ 2:50PM
States are the laboratories of governance. A thorough post-mortem after California's demise ought to be instructive - to those wanting to learn.
PattyMor| 2.16.11 @ 2:54PM
The communists have suceeded in making us poor. Now we will be sitting in the dark and freezing; maybe without water.
I say to the greenies: If you have power coming into your home from oil, gas or coal, let's shut off
the power and heat to your home. After all you don't want to use "dirty" power or heat. Let's not sell you any gas for your car or any airplane tickets. You can use you car and hop on a plane when they are all powered by windmills or solar panels.
MikeD| 2.16.11 @ 3:20PM
The membership roles of every environmental fringe group should be published; and every person on those lists must be forced to be disconnected from all they allegedly hate: fossil fuels, electricity, packaged foods, prepared foods, air conditioning, indoor plumbing, internal combustion engines, jet engines, electric motors, synthetic fabrics, any plastics or derivatives thereof, the internet, videos, audio technology, animal products, fertilized fruits and vegetables, all meat, all leather, all food transported by any conveyance using fuels, and anything I might have forgotten.
We are being destroyed by obama and the demoncraps politically and economically; and strangled by the left wing environmentalists through their illegal actions. As far as I'm concerned, obama, the courts, and the environmentalists are warring upon us; and we need to fight fire with fire. All rules are off because of their actions. We're fighting for our lives, and so far we've been doing it unarmed. The time is now. Last time I looked, despite their best efforts to ignore it, our Constitution still exists and is still the law of the land. we need to dig deep into it and use every word of it to smash these people for good. The law really IS on our side.
Pat| 2.16.11 @ 4:00PM
Will a hard working plumber in Boise or a waitress on her feet all day in Atlanta help bailout California? Chances are good they will have to fork over their hard earned money to save the Golden State. And despite the army of aging hippies, druggies, air guitar playing, texting while driving citizens, plus all the many other stereotypes describing a typical Californian, the Movers, and their buddies the Shakers, here know one or two things most Americans don’t.
First, Californians are docile voters, easy to govern and easy to manipulate. We don’t speak a common language, attend the same churches, celebrate the same holidays, share the same sexual preferences or honor the same cultural heroes. One thing we do share is a hatred of taxes, so our politicians are careful to avoid drastic tax increases. If they don’t carefully avoid them, those politicians who quickly replace them will. “Revenue Anticipation Notes” means we’re borrowing from our future – but that’s Ok with us voters, maybe we will have moved out of state by then and someone else’s kids will have to pay.
And all those wacky social issues and strange ideologies we Californians supposedly share – look below the surface, a special interest group somewhere is getting rich pretending to worry about the environment, illegal immigrants, your health and a host of other “pretend” causes which ultimately translates into making someone rich at taxpayer expense. You can deride the “Green” movement here – nutcases spouting their typical touchy-feely nonsense, right? But what about embryonic stem cell research? Might “save your life” someday, so is that a nonsense cause? Yes, it most assuredly is – California will funnel the taxpayers’ 3 billion dollars and change to selected special interest groups, but we won’t develop a cure for anything and the money definitely won’t save your life.
Lastly, the Dems know they control the state which means they need California to survive for national as well as local political reasons. If Americans in other states don’t insist on “tough love” when it comes to the Feds bailing out devious California, then Mickey will assure you his good friend Goofy is far sharper than you are.
ABNCP| 2.16.11 @ 4:22PM
It should now be apparent that what is going on in this country is a planned destruction of traditional America through economics. Making an already damaged economy even worse is it's goal. If there any doubts, just take a look at Obama's budget proposal. If the country were so foolish as to follow his proposals for continous unsustainable spending the United States would be destroyed. Anyone who doesn't understand that hasn't the brains that God gave an earthworm. Obama understands that. The Progressive plan for the destruction of this country is in full swing. Their strategy requires massive deficit spending. Deficit spending of that magnitude can only make a faltering economy much worse. A faltering economy leading to heavy unemployment, historic home foreclosure
rates, bank failures will grow even more catastrophic.Progressives quick not to waste a crisis see a golden opportunity. A failing economy leads to demands for more government spending on jobs created by the government for social justice not economic revival. Which brings us to what has been happening in California for decades.
What has happened in that State is a preview of what this country can expect unless we wake up and throw these Progressive bastards out in 2012.
Wayne Lusvardi | 2.16.11 @ 5:16PM
The venture capitalists cited by George Gilder, such as Doerr Khosla, Schmidt, Brin, Moore and Grove, Morgridge, Fisher and the Packard clan, are also arbitrageurs. Using California’s Green Power Law that embargoes cheap coal and hydropower, they can gamble that both green and dirty conventional power prices will rise. They can make a killing in the energy markets worth their $31 million political “investment” in defeating California Prop 23 that would have suspended the Green Power Law. This is what Cal-PERS external fund manager and CEO of Farallon Investments is doing. Without cheap coal and hydropower the price of green and dirty energy will both rise.
For a closer look at how the worldwide collapse of green power could affect California, its state budget, and pension funds, read “Green Energy Reality Looming for CA” – link:
http://www.calwatchdog.com/201.....ng-for-ca/
Marc Jeric| 2.16.11 @ 7:19PM
The Environmental Protection Agency has undertaken to save the planet from the man-caused global warming catastrophe. That far-left conspiracy started some 40 years ago by the global cooling scam: we should have disarmed our bombers and send them flying over the poles to cover the ice with soot and so prevent huge new glaciers from crushing the New York skyscrapers into dust. When that failed to inspire our ignorant population the same conspiracy continued in the 1990’s with the global warming hoax; we should stop breathing, kill all the cows, nationalize oil & gas companies, coal mines, electric utilities, transportation companies, car companies, etc. After 12 years of substantial cooling this became in the 2000’s the climate change flimflam with the same program of massive communization, whether the earth is cooling or warming. This name-changing sounded fishy, so the government-paid drones lately invented the cap & trade power grab, with the same program of massive nationalizations and general impoverishment. The ultimate aim of this far-left farce in 4 acts is the UN-sponsored world socialist government.
As for the true impact of human-caused global warming let me say that a burp of a lonely wolf in Alaska has more impact on the Florida climate – in other words less than negligible when compared to the sun cycles. In verifying the general import of my statement above please look on the Internet “Global Warming Petition” and “Manhattan Declaration” to read the names of 30,000+ American independent scientists, among them 9,000+ with PhD degrees (I am one of them “deniers”). As for the science of that farce: on a normal day there is some 20,000 ppm (parts per million) of water vapor in the atmosphere. Presently the carbon dioxide (CO2) is present in the atmosphere in the amount of 300 ppm. The thermal absorptivity of water vapor is twice that of CO2; so the projected increase of 100 ppm in some 50 years (which presumably will bring the end of human life on earth) will increase the thermal absorptivity of the mix by about ¼ % - in other words just about zero. In comparison to the sun activity cycles this amount is truly less than negligible. And so we can safely say that human activities have just about zero influence on the global climate,
The Obama’s program of communizing America has already progressed through massive nationalizations of our automobile companies, mortgage and insurance companies, banks, hospitals and medical services (to arrive shortly), student loan industry – to be followed in the near future by the nationalization of our energy industries led by the EPA. And in the meantime the ethanol boondoggle continues while destroying the environment, increasing the cost of energy, increasing the oil imports, and inflating the prices of food in general. The tax incentives and outright taxpayers’ printed money giveaways to the wind and solar energy projects are as well a huge waste of our resources in exchange for ultra-expensive, unreliable, inefficient, and environmentally destructive swindles.
Tina B| 2.16.11 @ 8:01PM
As an ex-Californian (the first half of my life) and a 'Southern Woman' now, I say let the smelt and the sealions save Cali.
Californians found them so gosh darned important over the past years. They let the farmers starve in order to save them. Let the critters save the people now.
The Cali nuts, fruits and flakes (MikeD you left out the flakes-I am a former flake) made their choice when they voted for these priorities themselves or elected people who made these choices for them. Let the smelt and the sealions help them now.
I moved out.
Not my problem any more. I already give to charity. Cali would not be one of them.
Los Angeles Bail Bondsman | 2.17.11 @ 1:24AM
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John K| 2.17.11 @ 12:14PM
I can only agree with every word of this excellent article. Here in Britain, God help us, all three major parties are in agreement with the AGW scam. It doesn't matter who you vote for, the government always wins! Our power is due to go out in 2017, and they think a few thousand wind turbines will keep the lights on. Things are going to get very bad over here.
TKRC| 2.18.11 @ 6:06AM
I say let The People's Gay Republik of Drugifornia crash and burn!
I hope the whole state turns into a giant hemp tent city where residents have to subsist on boiled potatoes and organic beets.
I saw the writing on the wall back in 2001 and I got out of CA. The people there deserve all of the hardships they've brought on themselves. Stupid is as stupid does.
Reebok | 8.11.11 @ 3:33AM
is good
العاب بنات | 4.11.12 @ 5:06PM
Old power takes up little space too.
Back before I fled CA, we used to go to a park off of S. La Brea Ave in Los Angeles. It was fun to watch the oil pumpjacks bobbing for oil. I'm shocked they are still there unless the Bing maps picture is out of date.