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Vote “YES” on Proposition 87

By Peter Lynch
Exclusively for
November 06, 2006

Proposition 87 is California state proposition that would raise taxes on oil extracted from California by up to 6%, depending on the price of oil. The proceeds of this tax would be capped at $4 Billion over 10 years and would be used for renewable energy R&D and development.

It is times like these that one is glad they do not live in California. I have been reading all the Pros and Cons of Proposition 87 for weeks and I am getting a headache. If I lived in California I am sure it would be many fold more intense. Over a $100 million dollars has been spent by both sides to get their various points across to the voters.

As usual there are a number of silly arguments by both sides and sometimes it even gets funny reading some of the reasons why (for instance) if they tax the oil, the big oil companies will leave the state, not use any more oil and the price of gas will rise. Please, give me a break – that is ridiculous.

Aside from all the usual “political” half-truths and silly nonsensical ads it is REALLY IMPORTANT to focus our attention on the REAL heart of Proposition 87.

Proposition 87 is important and should be passed for one very simple reason:

it is first and foremost a START………….

And as we all know it is impossible to get anywhere or do anything WITHOUT starting.

Most people realize, either consciously or unconsciously, that we have some very serious problems facing mankind: Peak Oil, Global Warming and an enormous and growing dependence on foreign oil.

The first step in dealing with any problem is the recognition that a problem exists and second step is to take a first step and START working toward a solution. We cannot wait, as opponents of 87 want, until we have a “perfect” way to monitor the use of these funds. Nothing in life, and especially in government is ever perfect.

Action is needed and forward motion is key at this point. What is critical is that a FIRST STEP must be taken, even if it is not perfect.

"There are risks and costs to any program of action. But they are far less than the long-range risks and costs of comfortable inaction." - John F. Kennedy

The other important point about Proposition 87 is that it has the potential to serve as a “blueprint” for the countries future energy plan. With California leading the way, the rest of the country will see the benefits of clean, safe, renewable energy and join in the movement toward a sustainable future for our children. We cannot continue with our blind and senseless “addiction to oil”, especially, less than friendly, foreign oil. We must educate ourselves, and our children to the realities of the crisis we are facing.

“Human history becomes more and more a race between education and catastrophe”- H.G. Wells, The Outline of History

We are all facing a critical turning point in the history of mankind and we must all step up to the plate and do what we all know is the right thing to do. We cannot sit back, do nothing and let the big oil companies and other vested interests bombard us senseless with silly irrelevant PR and commercials.

“Far better it is to dare mighty things to win glorious triumphs, even though checked with failure, than to make rank with those poor spirits who neither enjoy much nor suffer much, because they live in the gray twilight that knows not victory or defeat” - Theodore Roosevelt

Proposition 87 is NOT the answer to all our problems. Actually, it is really a very small start, but it is significant because it is the first step toward a solution and a far brighter and safer future for all of us.

Vote “YES” on Proposition 87. Vote “YES” for yourself, your children and for the future of our country and the world.

Peter Lynch is an independent columnist for this web site and may hold long or short positions in any of the stocks mentioned in this article and those positions can change at any moment. Disclaimer:, InvestorIdeas is not directly affiliated or compensated by the companies mentioned in this article. Nothing in the articles should be construed as an offer or solicitation or recommendation to buy or sell any specific products or securities. Past performance does not guarantee future results.


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