What industry remains, is fleeing.
These are some of the fruits of California’s Greens.
By Walter Russel Mead | ViaMedia
California’s dysfunctional alliance between suburban greens urban machines has killed what could and should have been a boom, writes Joel Kotkin at The Daily Beast. As part of a large piece about the political danger to the Democrats that comes from fighting the transformational “brown jobs” boom, Kotkin points out that Californians are turning their backs on a bonanza.
What bonanza? An oil boom for one.
Nowhere is the element of choice inherent in energy policy more evident than in California, home to five of the nation’s twelve largest oil fields and energy reserves equal to those of Nigeria, the world’s tenth-largest producer. As high-paying energy jobs swell payrolls in the Great Plains, the Intermountain West and parts of the Gulf, the Golden State has double-digit unemployment, a collapsed inland economy and a series of bankrupt municipalities. Amidst a great national energy boom, California’s energy production has remained stunted even as the state’s draconian “renewable” energy mandates are slated to drive up its already high electricity rates. The state’s high cost of energy has impacted industry: despite its vast human and natural resources, the Golden State, with 12 percent of the nation’s population received barely 2 percent of the country’s manufacturing expansions last year.
Yep, the world’s tenth largest proven reserves sitting mostly idle during a Depression.
As economic forecaster Bill Watkins recently told an audience in hard-hit Santa Maria: “If you were in Texas, you’d be rich.”
Productivity and potential spurned. These are the fruits of the greens.