I view California's unique quality of life to be our "golden goose".?? California real estate will retain its value if people want to live here.?? Jobs will follow the people but what types of jobs will they be???? Jobs in the "green tech" sector are likely to become an increasingly important part of our economy as California's AB32 will act as commitment device so that "green firms" will locate here. Some will succeed and some will fail.?? A big news story has been the news that Solyndra (a solar firm) has declared bankruptcy.?
This blog post about Solyndra's decline is worth reading. Here is a quote from the author of the post (his name is Arno Harris).
"As an aside, the announcement from Solyndra blamed an oversupply of cheap Chinese solar panels for the company's demise. Yes, it's clear that China has chosen to take a leading global position in manufacturing renewable energy technology. I don't think that's a bad thing. As I've argued elsewhere, lower cost solar equipment means lower cost solar electricity. Declining solar electricity prices mean expanding markets for all that help our planet get ever closer to cost-competitive clean energy."
This echoes a point I made in the NY Times earlier this year.?
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