Proposition 10 is a $5 billion dollar bond that will ultimately cost the California taxpayer $10 billion dollars over 30 years. Proposition 10 will displace over 720 milliion gallons of diesel and gasoline annually, saving California consumers over $3.3 billion dollars in fuel savings each year. Multiply that by 10 years and the California consumer saves $33 billion dollars in fuel cost savings alone, assuming gasoline and diesel prices stay where they are today. However, the future price of oil is likely to rise sharply as countries like China and India continue to grow their economies and Russia and the Middle East continue to nationalize their resources and cut off their energy pipelines to the West.
Having a simple understanding of AB 32 (the Global Warming Solutions Act of 2006) and the extensive pollution generated at California's ports, Proposition 10 should help California businesses meet impending tough greenhouse gas regulations established by the California legislature and keep critical jobs alive for California's growing work force. In fact, Proposition 10's support of clean air vehicles and renewable power generation will create “green jobs” and a “green Industry” right here in California. California-based companies like Zap, Tesla, Phoenix Motor Cars, all who make battery-electric vehicles only stand to benefit from Proposition 10.