SACRAMENTO – Gov. Arnold Schwarzenegger has proposed a powerful, centralized authority under his direct control that would be charged with implementing one of the nation's most far-reaching initiatives to curb global warming. In a key overture to wary industries, Schwarzenegger's hand-picked Climate Action Board also would have the authority to delay a proposed deadline for reductions in greenhouse-gas emissions if state regulations prove too onerous for businesses. Schwarzenegger has submitted his plan to various interests negotiating legislation that would map California's route toward a gradual rollback of greenhouse gases to 1990 levels by 2020, a potential 25 percent reduction. “It's...