Congratulations to the No on 10 folks and all Californians for their defeat of this wasteful, greedy, counterproductive proposition.
[This is an update of a story that I posted late last night]
I’ll update this in the morning when I’m less bleary-eyed, but the essence of the story is that T. Boone Pickens’s Proposition 10 went down to a crushing defeat yesterday. Despite being outspent by nearly 23 million dollars, with Pickens own firm, Clean Energy Fuels Corp., contributing 19 million of that) to $170,000 dollars, opponents of the boondoggle bill to fleece California taxpayers of 10 billion dollars to subsidize natural gas vehicles succeeded in getting the word out about what a bad idea this was. With 50% of the vote counted, Proposition 10 is going down to a crushing defeat losing in every California county but one and by a two-to-one margin statewide. (A quick check of the results this morning with over 96% of ballots counted showed a vote of nearly 60%-40% against.)
In California, at least, folks seem to have caught on to Pickens’s flim-flam.
According to MarketWatch.com:
“California voters didn’t fall for a Texas oil tycoon’s $10 billion money grab, no matter how much he spent camouflaging it as green,” stated Richard Holober, spokesman for the No on Prop 10 campaign, and Executive Director of the Consumer Federation of California. “Proposition 10 is the ultimate example of a wealthy special interest abusing the ballot initiative process to enrich itself. We built a coalition of major environmental, consumer, business, labor, taxpayer and civic organizations that triumphed over Prop 10’s $23 million war chest. The defeat of Prop 10 sends a signal that California’s ballot initiative process is not for sale to the highest bidder.”
The defeat of Proposition 10 is the first test of voter support for the self-styled “Pickens Plan.” News reports state that Mr. Pickens has spent $58 million on national television ads since July promoting his plan. One key component of his plan is the conversion of vehicles to run on natural gas. Pickens Plan ads do not spell out who pays for this conversion, and who benefits from it.
“Proposition 10 pulled back the veil from the Pickens Plan, and revealed that taxpayers would be hit hard with the cost of funding giveaways designed to put money in Mr. Pickens’ pockets. The Pickens’ Plan flunked the smell test with California voters,” Holober stated.
For more information on the Pickens Plan and why it is a scam check out the following posts:
A. Siegel Pickens buying CA vote?