Democrats and Governor Schwarzenegger are nearing a deal on landmark global warming legislation. It would significantly reduce greenhouse gas emissions over the next 15 years. But as Sacramento reporter Tamara Keith reports, at least one major hurdle remains.
If approved by the legislature and signed by the governor, AB-32 will make California a leader in the fight against global warming. The governor wants it, democrats in the legislature want it, but in recent weeks there have been a few hang-ups.
There have been questions about just who will implement the required emissions reductions. The new amendments create the California Greenhouse Gas Reduction Council. The committee's membership is a compromise. Another compromise, the bill now includes an escape valve.
In the case of an emergency or natural disaster, the deadline to meet emissions standards could be extended. But there's one more thing, the governor says is a must. The current language of the bill opens up the possibility of creating a cap and trade system, so that if one company can't meet the standards, they can buy emissions credits from another company. The trade provision isn't mandatory, and Governor Schwarzenegger says it needs to be.
Schwarzenegger: "I think the key thing for me is that we have a cap and trade, and it can't be 'may' it must be shall --shall have a trade."
Both the governor and democratic leaders say negotiations are continuing, and they're positive. The legislative session ends at the end of next week.
