In 2006 the California legislature passed AB32, which required greenhouse pollution to return to 1990 levels by 2020. They left it up to state regulatory agencies to come up with the details.
Governor Schwarzenegger followed with an executive order that requires an 80% reduction from 1990 levels in greenhouse pollution by 2050 (at which time California’s is expected to be twice the 1990 population, so this represents a factor of ten per capita reduction in greenhouse pollution.)
The California Air Resources Board (CARB) has been working to meet various statutory deadlines for the reduction plan. Its proposed plan will be released next month (October). As part of the process, it has made estimates of the economic costs and benefits of its plans, and it released those estimates last week:
These estimates indicated that the overall savings from improved efficiency and developing alternatives to petroleum will, on the whole, outweigh the costs. This balance is largely driven by current high energy costs and the degree to which measures increase energy efficiency throughout the economy and move California toward ultimately cheaper alternatives to fossil fuels.
The measures pay for themselves — not even counting the benefit of helping to avoid catastrophic climate impacts. The executive summary lists the key elements of CARB’s preliminary recommendation for the 2020 target:
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