The Cali governor is trying to make the 7th largest economy in the world a better place to live…
Much of the proposal — $40 million — would be spent only if California universities win a $500 million grant for research from oil giant BP to develop alternatives to fossil fuels.
Lease revenue bonds would be used to fund $70 million of the proposals, including the $40 million to chase the BP grant.
The proposed spending will be part of Schwarzenegger’s state budget plan which will be presented in January to the state legislature.
Who knows if BP will come through, but something tells me that with all the bad press lately they’ll gladly spend some extra cash to try and foster an environment to create alternative fuels. Naive? Possibly…but one can hope.
The overarching point here is that Schwarzenegger is being pragmatic. A centrist ideal to say the very least.