Posted on 04/03/2006 1:02:58 PM PDT by calcowgirl
Vinod Khosla is bankrolling a ballot initiative that would tax oil producers and subsidize alternative energy -- technologies he invests in as one of the valley's most prominent venture capitalists.
If California voters embrace the November initiative, the tax on oil companies could generate $4 billion for projects intended to reduce the state's dependence on oil by 25 percent within a decade.
Such political moves are still new territory for the well-heeled venture capital community more accustomed to funding start-up companies than ballot campaigns. That changed in 2004, when the industry put its money behind another technology-building initiative: stem-cell research.
This marriage of personal and political passions makes some consumer advocates uneasy, while outraging the oil industry.
Initiative backers are currently gathering signatures, which they say they'll submit by the end of the month. Khosla says the measure, which he's already spent more than $1 million to back, is not about him. He says it's about "doing the right thing."
"We've got a climate crisis on our hands," said Khosla, a Republican who is joining Hollywood mogul Stephen Bing, a Democrat, to bankroll the initiative. "We have an energy crisis on our hands. We have our oil feeding Middle East terrorism, and we need to do something about it. Besides, consumers are paying too much."
The latest proposal to use taxes to subsidize technological innovation in California comes as critics are still wrestling with the first such idea: Proposition 71, which authorized $3 billion in public money for stem-cell research. Khosla gave more than $500,000 to that campaign, while Bing gave nearly $260,000.
If passed, the measure would tax oil production in California... The revenues could be used for a number of purposes, such as subsidies to buy clean, alternative fuel vehicles or incentives to stimulate alternative fuel production.
(Excerpt) Read more at mercurynews.com ...
Khosla joins with leftist Stephen Bing to use taxpayer money to enrich themselves. These new "Republicans" will destroy the state, imo.
And you wonder why Kali has the highest fuel prices in the country?
CA: Initiative seeks to add new tax to oil companies' profits (to fund alternative energy industry)
Capitol Weekly ^ | 3/16/06 | Shane Goldmacher
Posted on 03/16/2006 9:23:25 AM PST by NormsRevenge
notice that he "bankrolls ballot initiative" rather than "bankrolling alternative energy technologies" on his own accord.
Our experience with the stem cell intiative should remind all of us to stop this production tax dead in its tracks. Venture capitalists should keep their greasy hands off taxpayer dollars.
The cost of any new oil tax will, of course, be passed on to consumers. I would hope for something better from Khosla, one of the founders of Sun Microsystems.
Notice he is not actually spending any of his own money to fund clean fuel technology, he is spending money so voters will be confused enough to vote to increase their cost of gas to fund his pet project for him.
Recipient |
Contest Name |
Amount Received |
Contribution Date |
Taxpayers For Accountability & Better Schools (Tabs), Yes On Prop. 39 A Coalition Of Teachers, Parents, Seniors, Taxpayers & Business, Id#1222562 |
Smaller Classes, Safer Schools, And Financial Accountability Act 39 |
1,000,000.00 |
5/15/2000 |
Taxpayers For Accountability & Better Schools (Tabs), Yes On Prop. 39 A Coalition Of Teachers, Parents, Seniors, Taxpayers & Business, Id#1222562 |
Smaller Classes, Safer Schools, And Financial Accountability Act 39 |
196,672.70 |
3/11/2002 |
Taxpayers For Accountability & Better Schools (Tabs), Yes On Prop. 39 A Coalition Of Teachers, Parents, Seniors, Taxpayers & Business, Id#1222562 |
Smaller Classes, Safer Schools, And Financial Accountability Act 39 |
116,384.24 |
3/11/2002 |
Taxpayers For Accountability & Better Schools (Tabs), Yes On Prop. 39 A Coalition Of Teachers, Parents, Seniors, Taxpayers & Business, Id#1222562 |
Smaller Classes, Safer Schools, And Financial Accountability Act 39 |
111,539.80 |
3/11/2002 |
Taxpayers For Accountability & Better Schools (Tabs), Yes On Prop. 39 A Coalition Of Teachers, Parents, Seniors, Taxpayers & Business, Id#1222562 |
Smaller Classes, Safer Schools, And Financial Accountability Act 39 |
76,215.84 |
3/11/2002 |
Taxpayers For Accountability & Better Schools (Tabs), Yes On Prop. 39 A Coalition Of Teachers, Parents, Seniors, Taxpayers & Business, Id#1222562 |
Smaller Classes, Safer Schools, And Financial Accountability Act 39 |
50,495.76 |
3/11/2002 |
Taxpayers For Accountability & Better Schools (Tabs), Yes On Prop. 39 A Coalition Of Teachers, Parents, Seniors, Taxpayers & Business, Id#1222562 |
Smaller Classes, Safer Schools, And Financial Accountability Act 39 |
48,143.00 |
3/11/2002 |
Taxpayers For Accountability & Better Schools (Tabs), Yes On Prop. 39 A Coalition Of Teachers, Parents, Seniors, Taxpayers & Business, Id#1222562 |
Smaller Classes, Safer Schools, And Financial Accountability Act 39 |
25,840.00 |
3/11/2002 |
Taxpayers For Accountability & Better Schools (Tabs), Yes On Prop. 39 A Coalition Of Teachers, Parents, Seniors, Taxpayers & Business, Id#1222562 |
Smaller Classes, Safer Schools, And Financial Accountability Act 39 |
388,557.50 |
5/9/2002 |
Taxpayers For Accountability & Better Schools (Tabs), Yes On Prop. 39 A Coalition Of Teachers, Parents, Seniors, Taxpayers & Business, Id#1222562 |
Smaller Classes, Safer Schools, And Financial Accountability Act 39 |
134,244.00 |
5/9/2002 |
|
|
|
|
Yes On 71: Coalition For Stem Cell Research And Cures, Id#1260661 |
Prop. 71 - California Stem Cell Research And Cures |
500,000.00 |
10/25/2004 |
Yes On 71: Coalition For Stem Cell Research And Cures, Id#1260661 |
Prop. 71 - California Stem Cell Research And Cures |
252,790.00 |
2/15/2005 |
Yes On 71: Coalition For Stem Cell Research And Cures, Id#1260661 |
Prop. 71 - California Stem Cell Research And Cures |
258,519.15 |
2/28/2005 |
|
|
|
|
Redistrict California - Yes On 77, With Major Funding Provided By Steve Poizner, Poizner For Insurance Commissioner & CALBUSPAC, Id#1279790 |
Reapportionment Initiative, Constitutional Amendment: 77 |
250,000.00 |
10/7/2005 |
|
|
|
|
CALIFORNIA REPUBLICAN PARTY, ID#810163 |
|
70,000.00 |
6/30/2000 |
SCHWARZENEGGER, CALIFORNIANS FOR, ID#1256981 |
Governor |
20,000.00 |
9/17/2003 |
|
|
|
|
POIZNER, REFORMERS FOR STEVE, ID#1256884 |
State Assembly 21 |
3,200.00 |
7/27/2004 |
POIZNER FOR INSURANCE COMMISSIONER, STEVE, ID#1276770 |
Insurance Commissioner |
5,000.00 |
6/30/2005 |
|
|
|
|
WESTLY 2006, ID#1251909 |
State Controller CA |
2,500.00 |
11/4/2004 |
|
|
|
|
WESTLY FOR GOVERNOR, ID#1276462 |
Governor CA |
2,500.00 |
9/22/2005 |
WESTLY FOR GOVERNOR, ID#1276462 |
Governor CA |
19,800.00 |
9/28/2005 |
Yep. He's not the only one. The Kleiner Perkins folks have been funding lots of initiatives like this. Taxpayers pockets are apparently easier to pick than succeeding in legitimate investment.
And the good "Republican" Khosla is now supporting Westly for Governor. (See post #10)
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