The exact language in this article is :

"these blunter tools [ie banning internal combustion engines] sharply raise the odds of incumbent assets such as oil fields or refineries becoming stranded [abandoned, in the field, as worthless, dead, unprofitable]. Add on the dimension of [these bans] being enacted at a state level [exactly what this initiative is trying to do] and you have a perfect recipe for raising uncertainty and risk premiums [charges added to the financing charges] for the likes of oil majors and reducing investment in them and their long-term projects". Translation: the value of oil stock will fall, oil companies won't be able to get financing for doomed projects, and "oil fields and refineries " will be abandoned as unprofitable. Bloomberg News is a premier business news service.

https://www.washingtonpost.com/business/energy/the-real-meaning-of-acalifornia-gas-guzzler-ban/2019/05/17/01ab7fae-78c6-11e9-a7bf-c8a43b84ee31_story.html

But below the stories of CATASTROPHE, are 4 more sections:

1. Know your enemy / Your government is not going to act. This section is also rather terrifying. For example: the largest banks have invested over $1.9 TRILLION in oil production in the last 3 years, to help the oil companies implement their plans to double oil production. The banks have also, apparently, bought up nearly every politician on the planet, including California. (Which is why we need this ballot initiative).

2. Solutions: Encouraging news about the technology we have NOW to solve the problem, now. 

3. Why this bill now?: The time is right, the technology is available, and the voters are ready. 

4. More contains other interesting and important articles, some on the same topics above, and some new. For example, specialty shops in LA will convert your classic car to, essentially, a Tesla. A teacher argues that it is criminal neglect not to teach students about the threats of global warming. 

 Scientific journal Nature: Climate Tipping Points Are Closer Than We Think: we're talking about is a point of no return, when we might actually lose control of this system  

 Fixing it is a $14-billion problem. And there's no plan to do anything, because, supposedly, there's no money   This ballot measure would solve the problem for free.

That's unbelievable. The UN reported this, corroborated by oil business journals also. -- The science says that we need to completely eliminate the use of fossil fuels; there will be terrible consequences if we don’t act immediately; and these monsters ARE PLANNING to more than double the fossil fuels being used. 

This is catastrophic news for humans. Our survival depends on countless other species that are essential parts of the ecosystems that we depend upon for life.  I couldn't believe that "several hundred times" wording.  That is exactly what the UN report says, but you have to look globally.  No US news source covered it.

Over a billion people depend on these coral reefs for food. A million species face extinction. Unless we act decisive NOW, it is a lost cause.

The North Pole is predicted to be ice free 60 years ahead of schedule. In fact, all other predicted disasters are occurring much sooner than expected: the permafrost is thawing much faster, Greenland ice is disappearing, and the coral reefs are dying, all much faster than predicted 10 years ago.) 

10 years ago, the Paris climate accords made agreements that were supposed to lower carbon emissions dramatically. But the agreements have not only failed to lower carbon emissions; carbon emissions have been going up. This is not what anybody expected.  It shows that dramatic and effective action is needed immediately. 

 Instead of reducing CO2 emissions, Fossil fuel companies want to more that DOUBLE CO2 production by 2030. That is insane! And it is NOT a misprint. https://www.nationalgeographic.com/science/2019/11/world-fossil-fuel-production-rise-guarantees-missing-paris-climate-goals/ 

 IN THE LAST THREE YEARS, that is, after all the terrifying science has come out, and since the Climate Accords have been signed. This is also totally insane!!! 

https://www.ran.org/wp-content/uploads/2019/03/Banking_on_Climate_Change_2019_vFINAL1.pdf (This report is a pdf that you have to download to read. This report is cited in these articles:)

https://www.nytimes.com/2020/01/11/opinion/climate-change-bank-investment.html

https://www.rollingstone.com/politics/politics-features/jpmorgan-chase-bank-biggest-investor-fossil-fuels-956927/

 Fossil-Fuel Industry Doubles Donations to Major Parties in Four Years, Report Shows   In caseyou were wondering why nothing gets done by politicians. https://www.theguardian.com/environment/2020/feb/12/fossil-fuel-industry-doubles-donations-to-major-parties-in-four-years-report-shows

California is poised to do NOTHING to reduce carbon emissions. California Governor Newsom claims he is creating “a $1billion climate catalyst fund"; but when you take his budget apart and do the, it is literally NOTHING!, and in fact CUTS funding:  https://calstart.org/ca-governors-budget-reduces-funding-for-clean-transportation/ Newsom's budget proposes to spend 1 billion is over 4 years, or, $250 million a year -- For all climate programs to share. AND he's cutting $123 million per year from the funding to subsidize the purchase of zero-emissions vehicles. That's $123 million that is being cut. (https://calstart.org/ca-governors-budget-reduces-funding-for-clean-transportation/)If you subtract that $123 million, from the $250 million “increase”, that leaves a real increase of $127 million, per year, to reduce carbon emissions; that money will be shared by all programs. Compare this to the numbers the state is already spending on climate disasters: $5 billion on fires alone, and many more billions on flood damage. And $150 billion in anticipated damage to the coast. So the spending Newsom is proposing, for addressing the root problem, CO2 emissions, is a tiny percentage, around 1%, of the money currently being thrown down the toilet for multi-billion dollar band-aids, repairing damages that are guaranteed to get worse every year, if we don't dramatically reduce carbon emissions immediat

That is what this article actually says, quoting State air-quality officials. https://www.latimes.com/local/lanow/la-me-smog-southern-california-20190701-story.html The official estimated cost to clean the air is $14 billion. This ballot initiative would fix it at zero cost. (Newsom had budgeted 1/7000th of the necessary funds). 

The recent Madrid UN climate summit was a disaster: world leaders reach no deal, and proposed no action, despite desperate calls by the world’s scientists, made to them, that disaster is coming fast https://www.latimes.com/environment/story/2019-12-15/longest-un-climate-talks-end-with-no-deal-on-carbon-markets  https://www.bbc.com/news/science-environment-50801493

 Currently 13 other states and the District of Columbia follow California’s car pollution standards. The residents of those states breathe cleaner air because of California https://www.latimes.com/california/story/2019-11-15/california-trump-administration-lawsuit-auto-emissions-climate-change

As noted in the video above, Musk says that with 100 Giga-factories, the entire planet could go solar. https://youtu.be/aYN3K20o0rU  Three such factories are already in production: One in Reno, Nevada; one in Buffalo, New York; one in Shanghai, China; and a fourth is being built in Berlin, Germany. All with zero help from the government. Imagine, if the government was committe

The two most popular Ford models, the Mustang and the F-150 pick-up, are available as plug-ins today.  The Mustang is faster than a Maserati, at 1/10th of the cost.  https://www.latimes.com/business/story/2019-11-17/ford-mustang-electric-suv

Volkswagon goes green with 3 new electric models https://www.latimes.com/business/story/2019-11-27/los-angeles-auto-show-vw-q-a

GM will start building the company’s first electric pickup late in 2021 Tesla and Ford have electric pickups for sale today. Don’t let anyone tell you we aren’t ready to ban new gasoline-only cars and trucks!  https://www.latimes.com/business/story/2020-01-27/gm-electric-investment

 JetBlue flying into carbon-neutral future  https://www.msn.com/en-us/money/companies/jetblue-moves-to-become-first-carbon-neutral-us-airline/ar-BBYFhVn  

China is banning traditional auto engines. Its aim: electric car domination. https://www.latimes.com/business/autos/la-fi-hy-china-vehicles-20170911-story.html "China plans to ban new vehicles powered by gasoline and diesel engines". It's just good business. And it shows the technology is available.

Electric cars run cheaper: https://www.energy.gov/eere/electricvehicles/saving-fuel-and-vehicle-costs  that is, the same energy needed to push your car down the street, is cheaper, if you buy it as electricity, out of an outlet, than if you buy it as gasoline.  Partly because electric motors are MANY times more energy efficient than gasoline motors; as are power generating stations (solar power especially, duh!) 

Electric cars run cheaper: https://www.energy.gov/eere/electricvehicles/saving-fuel-and-vehicle-costs  that is, the same energy needed to push your car down the street, is cheaper, if you buy it as electricity, out of an outlet, than if you buy it as gasoline.  Partly because electric motors are MANY times more energy efficient than gasoline motors; as are power generating stations (solar power especially, duh!) 

https://www.latimes.com/politics/story/2019-12-04/issues-in-the-democratic-primary 

There are all sorts of fake fixes.  Cap and trade isn't working.  The Air Resources board isn't working.  LA's air has gotten worse every year for 10 years and THERE IS NO PLAN!!!  Except this bill  https://www.latimes.com/opinion/story/2020-01-02/cap-and-trade-california-oil-and-gas-industry

https://www.ecowatch.com/most-americans-see-climate-crisis-impacts-and-say-the-government-needs-to-respond-2641459457.html 

https://www.ecowatch.com/most-americans-see-climate-crisis-impacts-and-say-the-government-needs-to-respond-2641459457.html 

  https://www.salon.com/2019/12/09/getting-rid-of-pollution-improves-public-health-a-lot-faster-than-youd-think_partner/

Chrysler JUST came out with this POS. https://www.latimes.com/business/story/2019-12-19/dodge-muscle-cars-big-willie-robinson The all-electric Ford Mustang is faster, and costs HALF!!!  No one "needs" to buy such a monster. This bill would help them avoid making such a horrible mistake.

Governor Newsom says we don't need to do anything, except spend more and more money fighting bigger and bigger fires.   

https://enewspaper.latimes.com/infinity/article_share.aspx?guid=3245642f-9163-4458-ae8e-eae73ba68830

LA auto show: Lots of new plug-in hybrids an EVs https://www.boston.com/cars/car-guides/2019/12/30/automakers-revving-up-electric-suvs-to-solve-a-sales-problem

A teacher speaks out:  teachers are "mandated reporters” someone legally required to speak up about signs of child abuse and neglect. If climate change will harm students and is causing them anguish, silence on the issue is a violation of that duty. By not speaking up forcefully about climate change, as a generational issue, institutions like schools are “propping up this fictional story” that we care for the kids in our country, while in fact neglecting them egregiously, by ignoring the climate threat.” https://www.washingtonpost.com/magazine/2020/02/03/eco-anxiety-is-overwhelming-kids-wheres-line-between-education-alarmism/?arc404=true

LA artisans re converting classic old cars into EV's. There is NO car with 4 wheels that cannot be converted to electric.  You can do-it-yourself to a VW bug for $20,000.

https://enewspaper.latimes.com/infinity/article_share.aspx?guid=425014a0-17ce-43b7-985d-3f4ee939b487 

LA artisans re converting classic old cars into EV's. There is NO car with 4 wheels that cannot be converted to electric.  You can do-it-yourself to a VW bug for $20,000.

https://enewspaper.latimes.com/infinity/article_share.aspx?guid=425014a0-17ce-43b7-985d-3f4ee939b487 

 Climate change will cost them tens of thousands, in property values, in the immediate future. Headline:  Sellers of coastal properties will have to disclose coming destruction https://enewspaper.latimes.com/infinity/article_share.aspx?guid=68a07d8a-c48f-4a1b-a499-b0a4a6e0a22f