Thursday, October 21, 2010

Bill Gates Backs Energy Bill Fight In California

Microsoft's Bill Gates has backed efforts to block a California proposition, Proposition 23, which seeks to derail that state's clean energy legislation, according to filings uncovered by nonprofit research organization Maplight.org. Proposition 23, which is being taken to California voters in November, is a referendum which would stall the state's AB32 climate legislation until unemployment falls to 5.5 percent. According to the filing, Gates has contributed $700K to opposition to the Proposition. Just this week, a group of venture capital investors put out a statement opposing the proposition, saying that it would derail clean energy investments in the state. Proposition 23 is backed by oil firms Valero Energy and Tesoro.