California Ballot to Delay Cap and Trade

HopeTracker| California’s energy industry and an antitax group are collecting signatures to put an anti-cap and trade measure before voters in November. California’s current cap and trade environmental initiative is scheduled to go into effect in 2012.

Citing the recession, other states are also taking a look at pending cap and trade initiatives.

California passed its law authorizing the cap-and-trade program in 2006. The ballot measure would bar the state from implementing the law until its jobless rate stabilized at or below 5.5% for a year, which supporters say would signal the return of a strong economy. The state’s jobless rate topped 5.5% in October 2007 and now stands at 12.5%. Read on at Wall Street Journal.