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SACRAMENTO -- An initiative that seeks to suspend California's global warming law until unemployment drops has qualified for the November election ballot, The Associated Press reported.
The California Jobs Initiative would delay the state's landmark global warming law until unemployment falls from its current rate of 12.4 percent to 5.5 percent or lower, and stays there for a year. The 2006 state law, championed by Gov. Arnold Schwarzenegger, set a goal to reduce greenhouse gas emissions in California and imposed new requirements on utilities, manufacturers and other businesses.
Oil companies funded the drive to put the initiative on the election ballot. It is backed by some business groups that said the law could cost jobs and lead to higher energy prices, though other businesses oppose the initiative, according to the report.
"This initiative sponsored by greedy Texas oil companies would cripple California's fastest-growing economic sector, reverse our renewable energy policy and decimate our environmental progress for the benefit of these oil companies' profit margins," Schwarzenegger said in a statement.
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