Web Version [link removed] | Update Preferences [link removed] Business Climate and Job Creation Trump Says U.S. Hasn’t Yet Agreed To Roll Back Tariffs As Part Of China Trade Deal

President Trump on Friday disputed China’s assertion that the two countries had agreed to roll back tariffs as part of an interim trade accord, but he also said progress was being made toward resolving the long-running trade war.

“I haven’t agreed to anything,” Trump told reporters at the White House. “But we’re getting along very well with China. They want to make a deal. Frankly, they want to make a deal a lot more than I do.”

Stocks fell Friday on the president’s remarks, but regained their footing later in the session. Markets soared a day earlier after the Chinese Commerce Ministry said the U.S. and China had agreed to roll back tariffs as part of the accord.

Some observers said the president’s remarks may be less contradictory than they appear, noting that tariffs are the main leverage held by the U.S. and that Mr. Trump wouldn’t want to commit to lifting them until the Chinese have agreed to other terms the U.S. is seeking, such as increased agricultural purchases and new rules to prevent currency manipulation.

Read More [[link removed]] WSJ Survey: Economists Split On Causes Of Hiring Slowdown

Economists are roughly split over whether the recent hiring slowdown reflects primarily a shortage of workers or softening demand for labor, a sign of continuing uncertainty about the outlook.

In The Wall Street Journal’s latest survey of economists, 45.3% blamed the slowdown on the tight labor market, which has made it harder for many employers to find enough workers. An additional 37.7% of respondents said the issue was ebbing desire to expand payrolls.

The first explanation would suggest the economic expansion can continue at a solid pace if more potential workers can be drawn into the labor force from sidelines.

“Manufacturers have consistently cited an inability to find talent as a top concern, with some suggesting that a lack of sufficient workers has held back growth,” said economist Chad Moutray of the National Association of Manufacturers. “At the same time, hiring has weakened lately primarily due to global headwinds and ongoing trade uncertainties.”

Read More [[link removed]] Fires and Blackouts Pose An $11.5 Billion Economic Hit To California

California’s wildfires and blackouts may push the state economy to underperform the U.S. for the first time since 2010.

The state’s economic growth rate this year may range from 2% to 2.2%, below the expected 2.3% growth rate for U.S. gross domestic product, according to the latest estimates from Bank of the West’s chief economist Scott Anderson. That’s due to the combined impact of this year’s fires and blackouts, at up to $11.5 billion.

That shows the stakes for California’s leaders as they struggle to deal with mass power shutoffs and wildfires that have increased in severity due to a changing climate. Unaddressed, the fires and outages can leave the state more vulnerable during the next inevitable downturn should companies, who already chafe under regulations and costs, decide to leave the state, said Howard Cure, head of municipal research in New York at Evercore Wealth Management.

Read More [[link removed]] Could Selling PG&E To Its Customers Help Solve California's Power Problems?

When wildfires broke out again in California last month, residents weren't just worried about the fires themselves. Many were angry and frustrated over intentional blackouts that were designed to reduce the risks of even more fires.

The state's largest utility, PG&E, was the target of much of that anger. The company's maintenance of its infrastructure, or, often, the lack of it, in recent years has contributed to and sparked at least five previous wildfires, with deadly consequences.

Now, as William Brangham tells us, political leaders in Northern and Central California are saying it's time to push PG&E aside for a different solution.

Read More [[link removed]] In A Sign Of Changing Economy, An Iconic Flower Company Closes Its Doors

Each morning, just after the sun lights up the shores of Half Moon Bay, Rosa Manrriquez steps out her door, walks past the neatly manicured flowers lining her walkway, and drives to the Bay City Flower Company, a place she has called a second home since 1979, when she began working there.

But on this October morning, the trip to work is one of her last. On Nov. 10, the family-owned flower operation will close its doors for good, marking the end of an era for a company, started 110 years ago by a Japanese immigrant, that survived the Great Depression and the family’s internment during World War II, and grew into one of the largest employers in Half Moon Bay.

Many area residents fear that the closure, which the company attributes in part to rising labor and production costs, is an ominous sign for the remaining nurseries in San Mateo County, which in recent years have struggled to keep up with a changing economy and the global flower market.

Read More [[link removed]] 71% Of California Voters Support Tax On Plastics Manufacturers According To Survey

A new survey of California voters found that 71 percent support key policies of a 2020 ballot initiative to tax plastic manufacturers, officials with San Francisco-based Recology said Thursday.

The “California Recycling and Plastics Pollution Reduction Act of 2020” would assess a fee of up to 1 cent per plastic package. The fee could be passed on to consumers in the form of higher prices.

Caryl Hart and Linda Escalante, two commissioners with the California Coastal Commission, and Recology’s president and CEO Mike Sangiacomo filed the initiative with the state attorney general’s office. Money from the fee would go toward environmental restoration and improving recycling infrastructure.

Eric Potashner, vice president of strategic affairs at Recology, said the company needs at least one optical scanner and machine learning technology so its machines can do a better job of separating recycling from

landfill materials.

Read More [[link removed]] Bubble Watch: California's Outmigration Gap To Texas Doubles to 48,354

Buzz: California saw 48,354 of its residents move to Texas vs. those who came from the Lone Star State last year — a gap that is more than double 2017 and almost double the historical trend.

Source: My trusty spreadsheet looking at fresh 2018 Census Bureau data.

The Trend

Ponder the math in this California vs. Texas heavyweight battle …

Eastbound: Texas got 86,164 Californians last year, that’s up 36% in a year and 33% above the 2010-17 average.

Westbound: Conversely, the Golden State got 37,810 from the Lone Star State in 2018, down 8% in a year and 2% below the 2010-17 average.

The gap: So that adds up to a Texas migration advantage of 48,354 more in than outs with California last year. That’s up 118% in a year and 85% above the 2010-17 average.

Read More [[link removed]] Blackouts, Fires, High Gas Prices: Who Wants To Live In California Today?

On the fourth morning without power, Carolyn Summers lay as still as possible in bed, trying to delay the moment when she ran out of oxygen.

Her power generator, which she had hoped would run her oxygen compressor, wouldn’t start. The local hospital said it couldn’t give her an extra tank.

“I guess if you run out, you just die?” Ms. Summers wrote on Facebook. Then the 62-year-old lay still again, conserving energy and hoping for a miracle.

Rampant wildfires—and the precautionary blackouts that utilities including PG&E Corp. have instituted to try to prevent them—are reshaping life across the Golden State and transforming the state’s reputation.

Read More [[link removed]] How Reno, Nevada Turned Their Economy Into A Small Powerhouse

The Reno-Sparks region in Nevada has experienced something of an economic boom following the 2008 recession. The McKinsey Global Institute recently labeled Reno-Sparks as a “small powerhouse” economy.

So what was the secret to their comeback? “Marketplace Morning Report” host David Brancaccio put that question to Hillary Schieve, mayor of Reno, who spoke about her city’s recent efforts to diversify their economy,

David Brancaccio: Now, you have land. Compared to the San Francisco Bay Area, you’ve got low rent. You’ve got 320 days of sunshine a year. I’d like to say that Reno just got lucky, but give us a sense of the ways that you got the boom to come to you.

Read More [[link removed]] All Eyes Are On California As Uber And Lyft Fight Labor Leaders To Determine The Future Of The Gig Economy

It’s the best of times and the worst of times for rideshare drivers across the country, depending on whom you ask.

“Drivers have lost their homes due to the shrinking pay from Uber and Lyft and can’t find new apartments because landlords don’t think we have stable jobs, this is the world we live in,” said Nicole Moore, a part-time Lyft driver in Los Angeles and organizer with Rideshare Drivers United. “I know two or three drivers who have been living out of their cars. Meanwhile Garrett Camp [the co-founder of Uber] just bought a $72.5 million home.”

Six hours north in Sacramento, Jermaine Brown, a Lyft and Uber driver, said that he started working for the apps because he had “three beautiful kids at home,” but was stuck working 60 to 70 hours a week at a car rental agency.

“I was just missing out on a lot of time with my kids,” he said. “Lyft and Uber have provided me with the flexibility to be at home with them, coach their soccer and basketball teams, and pick them up from school.”

Read More [[link removed]] California Consumer Privacy Act And The Future Of The Health Data Economy

Organizations engaging with personal healthcare data need to pay close attention to the rapidly evolving regulatory environment. Over the next few years, the compliance requirements around personal healthcare data are set to evolve at breakneck speed. Surviving and thriving in this environment of regulatory change will require a more strategic approach to managing personal data.

For decades, personal healthcare data was regulated by a patchwork of federal and state-level, industry-specific data protection rules that left significant gaps in coverage. As a result, an individual’s healthcare data – and all personally identifiable data within organizations working with healthcare information – fell under data protection rules only in some circumstances. Not surprisingly, today most individuals do not understand when their healthcare data is protected by data privacy rules and when it is not.

Now, the advent of new state-level data privacy laws, such as the California Consumer Privacy Act (CCPA), and the possibility of a comprehensive federal level law means it’s likely that those gaps in regulatory coverage will be filled, creating a range of new compliance requirements. These new data privacy rules – covering the previous gaps – present an opportunity for healthcare industry organizations to enhance the trust within their data relationships. Let’s look at an example of what is happening to see both the challenges and the possibilities.

Read More [[link removed]] Companies Go To New Depths For Ocean Plastic In Recycling Push

Companies seeking to cut plastic use are tapping a vast source of raw materials: ocean garbage.

Coca-Cola Co. recently unveiled a bottle made in part of recycled marine litter. Interface Inc., the world’s biggest maker of carpet tiles, is weaving rugs with yarns produced from discarded fishing nets. Startups are raising funds to fish for plastics and make new products.

“There’s value in this, and if you do it right, it doesn’t have to cost,” said Nigel Stansfield, Atlanta-based Interface’s president for Europe, Africa, Asia and Australia.

Striking that balance presents a challenge for companies striving to do good, earn money and avoid accusations of greenwashing, or making bogus environmental claims.

Douglas Rader, chief oceans scientist at the nonprofit Environmental Defense Fund, welcomed all the initiatives, even though they only scratch the surface. “The problem is massive in its scale,” he said.

Read More [[link removed]] Energy and Climate Change Labor Sides With Big Oil in A Feud With Pittsburgh’s Mayor

Mayor Bill Peduto has faced a fierce backlash since he announced at last week’s Climate Action Summit that he opposes any new petrochemical companies coming to Western Pennsylvania. Labor unions, civic leaders and even the mayor’s closest political ally have taken him to task.

“When you make a comment that can clearly hurt the advancement of a region and their ability to feed their family and have a better life, that’s when it becomes an issue for us,” said Darrin Kelly, the city firefighter who heads the Allegheny County Labor Council. “I’m going to be very vocal on behalf of the working men and women to protect them, OK? . . . If they’re attacking our way of life, I’m going to come after them.”

The battle is a microcosm of what is happening nationally: Big-city Democratic mayors are aligning themselves with leftist local officials and environmental activists to renounce disfavored industries. It also exposes the Democrats’ deep challenges with blue-collar voters. In both Western Pennsylvania and the Scranton area, the shale industry is opening up prosperity not seen for two generations—and inflaming climate zealots. “A Democrat cannot win Pennsylvania without voter support from those two regions,” said Mike Mikus, a strategist who consulted for Democratic Gov. Tom Wolf’s re-election campaign last year. “And you can’t win the presidency as a Democrat if you lose Pennsylvania.”

Read More [[link removed]] New Oil And Gas Drilling Could Start Soon Near Popular California Parks

The Trump Administration is moving forward with a plan that could open roughly 1.2 million acres across nine counties in California’s Central Valley to new oil and gas drilling. The proposed area spans across the heart of America’s breadbasket, where a quarter of the nation’s food is grown, on land that borders beloved national parks and monuments including Yosemite and Sequoia.

The plan has been in the works for years and was first included as part of the Bureau of Land Management’s Resource Management Plan released under the Obama Administration in 2012. The area includes stretches across Fresno, Kern, Kings, Madera, San Luis Obispo, Santa Barbara, Tulare, and Ventura counties in California, and includes 400,000 acres of public land.

The BLM has not held a lease sale in California since 2013, when a judge ruled that the agency illegally issued leases without analyzing the environmental impact of drilling called hydraulic fracturing, or fracking.

Read More [[link removed]] Feds See Climate Change Shaping Economy, Policy

The U.S. central bank signaled on Friday it may be getting ready to join international peers in incorporating climate change risk into its assessments of financial stability, and may even take it into account when setting monetary policy.

"To fulfill our core responsibilities, it will be important for the Federal Reserve to study the implications of climate change for the economy and the financial system and to adapt our work accordingly,” Fed Governor Lael Brainard said in remarks released at the start of the Fed’s first-ever conference on climate change and economics.

The Fed, she said, will need to look at how to keep banks and the financial system resilient amid risks from extreme weather, higher temperatures, rising sea levels and other effects of the accumulation of greenhouse gases in the atmosphere.

And increasingly, she said, “it will be important for the Federal Reserve to take into account the effects of climate change and associated policies in setting monetary policy to achieve our objectives of maximum employment and price stability.”

Read More [[link removed]] Forged In Fire: California's Lessons For A Green New Deal

WE WERE JUST TAKING PICTURES. Of the ash, stray bricks, and weeds. Of twisted metal and charred patio furniture. Of the pine trees still standing on the edge of the lots, their towering trunks now charcoal black. Of the lonely white brick fireplace in the middle of it all, the only surviving structure, metal pokers hanging expectantly by the grate.

“Get the hell off my property!”

The words came bellowing from a burly man who had just pulled up to the pile of ash that once was his home in Paradise, California. As he shouted a litany of complaints, it became clear that his rage wasn’t only reserved for us trespassers — and there have been plenty who have gone to Paradise to gaze at the eerie emptiness where a thriving community once stood, before it was decimated by California’s deadliest fire one year ago.

The target was myriad forces that had conspired to twist the knife, again and again, on his already wrenching property loss — from the insurance company that wouldn’t pay up, to the county that wouldn’t let him clean up, to the state that wanted his (now contaminated) well to be sealed up. His rage was also directed at the absence of decent temporary housing for fire victims like him, not to mention the electric utility that had started the blaze and was still evading responsibility.

Read More [[link removed]] Have California's Renewable Mandates Hampered Wildfire Prevention Efforts?

While California prides itself on its array of clean energy programs, large portions of the Golden State have been set ablaze and more than 2 million customers — the vast majority living in Pacific Gas & Electric’s service territory — have had their power shut off in the past month to reduce the chances of utility equipment sparking wildfires.

Is the increased spending state policymakers have earmarked for renewable energy integration eating into the dollars utilities need to spend to harden their infrastructure and clear clogged forests?

That’s at the heart of legislation two Republican members of the California Legislature say they will soon introduce.

Sen. Jim Nielsen, R-Tehama, and Assemblyman James Gallagher, R-Yuba City, want to direct more money into utility infrastructure upgrades and clearing out vegetation to lessen the frequency of Public Safety Power Shutoffs — the precautionary blackouts power companies have increasingly deployed this fire season that de-energize lines in fire-prone areas.

Read More [[link removed]] Workforce Development For Better Or Worse, School Construction Bond On March 2020 Ballot Will Be Prop. 13

You don’t have to be superstitious to fear the number 13. Both supporters and opponents of a proposed $15 billion school and college construction bond headed for the March 2020 state ballot are somewhat apprehensive now that the Secretary of State has designated it Proposition 13.

Four decades after state voters slashed property taxes and set a cap on property tax increases by passing the infamous Prop. 13, the number continues to conjure strong feelings pro and con among California voters, even though many weren’t old enough to vote at the time. Whether that association will affect their view of a new bond measure is an X factor those involved in the election hadn’t anticipated.

“Anything but,” confided a legislative staffer when asked if the person would have preferred a number other than 13.

Read More [[link removed]] LA Unified Drops Ranking System For Schools But Promises To Share Student Growth Data

California’s largest school district decided Tuesday it will not rate its schools and instead will share data publicly that provides deeper insight into student growth.

The Los Angeles Unified board voted 6-1 to stop a proposal that would have assigned each school a single rating on a 1-to-5 scale, a tool known as the School Performance Framework.

Under board member Jackie Goldberg’s resolution, the district cannot rank its schools using numbers, stars or any other type of summative rating. But it permits the district to implement some of the School Performance Framework’s other objectives, including its goal to make student growth data available publicly.

Read More [[link removed]] State Audit Finds Education Money Not Serving High-Needs Students, Calls For Changes In Funding Law

In its first detailed examination of former Gov. Jerry Brown’s landmark school funding law, the California State Auditor sharply criticized the Legislature and State Board of Education for failing to ensure that billions of dollars have been spent on low-income children and other students targeted for additional state money.

“In general, we determined that the State’s approach” to the Local Control Funding Formula “has not ensured that funding is benefiting students as intended,” State Auditor Elaine Howle wrote in a letter with the audit, released on Tuesday.

Howle issued her findings after examining spending by three districts since the funding formula went into effect six years ago: Oakland, San Diego and Clovis. Her report’s recommendations call for tightening rules for spending money explicitly allocated for low-income children, foster youths and English learners — the students targeted under the formula — and for making it easier for the state and the public to track spending within and across districts.

Read More [[link removed]] Infrastructure and Housing Southern California's Home Prices And Sales Rise In September

A sluggish Southern California housing market showed signs of heating up in September, as prices rose modestly and sales jumped by the largest amount in nearly three years.

The six county region’s median price hit $533,000, a 2.5% bump from September 2018, according to CoreLogic data provided by DQNews. The number of new and resale houses and condos that sold climbed 10.4%.

The pickup follows a sustained slowdown experts blamed on the exorbitant cost of housing across the Southland. But real estate agents say falling mortgage rates have more and more people touring open houses.

The rate on a 30-year fixed mortgage has risen slightly in recent weeks but, at 3.78%, is still more than a percentage point lower than a year ago, according to Freddie Mac. The change saves $263 a month on a mortgage payment for a $533,000 house.

Read More [[link removed]] Coastal Cities Give In To Growth. Southern California Favors Less Housing In Inland Empire

In a dramatic shift to how Southern California cities plan to grow over the next decade, a regional agency decided Thursday to push for more housing in coastal rather than inland communities.

Under the plan, communities in Los Angeles and Orange counties will have to accommodate more than 1 million new houses — more than triple the amount of both Riverside and San Bernardino counties. Culver City, for example, will have to zone for 3,300 new homes, more than double the number than under an alternative plan, which would have given a much larger responsibility for new housing to the Inland Empire.

“This is a moment of our growing up,” Los Angeles Mayor Eric Garcetti said after the vote. “I understand the fear where people are like: ‘No, just keep [housing] out and maybe my traffic won’t get worse.’ Well, we’ve tried that for three decades and it’s failed. This is a new beginning.”

Thursday’s vote by the Southern California Assn. of Governments was required under a 50-year-old state law, which tells cities and counties to plan every eight years for enough growth in their communities to meet projected population increases and to account for other factors that could indicate a need for more development.

Read More [[link removed]] Why $4.5 Billion From Big Tech Won’t End California Housing Crisis

A mile from Apple’s headquarters in Cupertino lies the sun-faded carcass of the Vallco Shopping Mall. At the moment it consists of empty, buff-colored buildings, acres of black asphalt and a pile of rubble where the parking garage used to be.

About a year ago, a developer submitted a proposal to build 2,400 apartments on the site, half of them subsidized to put rents below the market rate. The city approved the plan reluctantly, and afterward a community group sued. The project is stuck in court.

Stories like that hang heavy over Apple’s $2.5 billion plan, announced Monday, to help solve the dire shortage of affordable housing that has come to dominate life and politics in the most populous state. The pledge came weeks after Facebook announced $1 billion for a similar program, and months after Google did the same. Earlier, in January, Microsoft committed $500 million for affordable housing in the Seattle area.

Read More [[link removed]] USC Study: California's Women Of Color Face Extra Burdens From Housing Crisis

California’s ongoing housing crisis is exacting an especially heavy toll on women of color, who face systemic barriers to opportunity in the Southland and elsewhere, including wage discrimination, biases in the workplace, unsafe transit options and a lack of access to affordable daycare, according to a USC study released Thursday.

“It’s no surprise that the housing crisis is taking an extra toll on the most vulnerable members of our state, but the breadth of the impacts on women of color is alarming,” said Prof. Ange-Marie Hancock Alfaro, chair of the Gender Studies Program at the USC Dornsife College of Letters, Arts and Sciences. “This report should be a wake-up call to our leaders that the fastest-growing constituency in our state is in urgent need of systemic reforms on urgent issues.”

The report, “Finding and Staying Home: Women of Color in California’s Housing Crisis,” included extensive quantitative research and qualitative interviews with women of color across the state, who make up 30% of the total population in California.

Read More [[link removed]] Opportunity Zones' Social Impact On California's Housing Market

California is positioned to take full advantage of an opportunity to breathe life into low-income neighborhoods throughout the state. An economic impact of hundreds of millions of dollars could significantly improve conditions in the state's 879 federally designated opportunity zones in low-income communities. With more opportunity zones than any other state, California is in prime position to stabilize its economy, thanks to socially conscious investors looking to make a difference while maximizing their returns.

Through the initiative, investors are allowed to defer federal taxes on capital gains by investing the proceeds in qualified opportunity funds. Details aside — investments must create positive economic activity in the area and must be held long-term — it’s caused socially aware investors to take notice.

As investors, we always want to maximize our return, and as humans, we want to do good and make a positive impact in our communities. Opportunity zones give investors the chance to do well financially while also contributing to the betterment of local communities that desperately need economic improvement.

Read More [[link removed]] Editorial and Opinion Targeting Mark Zuckerberg

Perhaps the most important political divide in our polarized times isn’t between those who support Donald Trump and those who oppose him. It’s between those who think American values like free expression still matter and those who think Mr. Trump’s Presidency is a license to dispense with them.

The relentless campaign demanding that CEO Mark Zuckerberg police the political ads of candidates for accuracy on Facebook shows the prevalence of the latter view. In the panic over Mr. Trump, academics and journalists have embraced censorship they’d find unconscionable in another context.

The arguments being deployed can be mind-bending. A Columbia law professor opines in the New York Times that, with its recent decision not to fact-check or censor ads by politicians, Facebook is “refusing to stay out” of politics and therefore asking to be broken up. That’s backwards. Facebook’s policy is wise precisely because it takes the company out of the political fray.

Read More [[link removed]] A Truly Green Economy Would Support Oil Production In California

On any given day, Americans who call the Golden State home use dozens of petroleum byproducts. These products are much more than just the gas in our cars. They are also the footballs our children play with, roads we drive on, tires that move our cars, plastic in electric cars, medical equipment we rely on, shampoo, soap, toothbrushes, ballpoint pens, shoes and much more.

Unfortunately, the industry that provides all these products is under attack by Gov. Newsom, his administration, and the green movement. The governor recently signed a set of bills in an effort to move California away from fossil fuels. A world without oil and oil byproducts is completely unrealistic, and it’s time Newsom and other lawmakers understand and accept the truth about California’s oil and gas industry.

California refineries are supplied over 640 million barrels of crude oil a year. Instead of producing oil in our state to meet this need, we rely on a foreign supply of oil more than ever before. In 2018, our state produced only 31.1% of our crude oil supply, received 57.5% from foreign nations and 11.4% from Alaska. In 1985, California refineries were supplied 644 million barrels of crude oil. At the time, California produced over 60% of our oil supply, received only 5.5% from foreign nations and 32.7% from Alaska.

Read More [[link removed]] Meritocracy’s Waterloo?

Social-justice organizations last week threatened the University of California with a lawsuit unless it halts the use of standardized testing in admissions, claiming the tests discriminate against minorities. Who knows what success they may have before a sympathetic judge. But the issue may be settled sooner as the political mood in the UC moves against testing. This shift could have baleful nationwide consequences.

Standardized tests have been a target of the left for decades, but in 2018 something changed. Dozens of colleges, most significantly the University of Chicago, have been dropping their standardized-test requirements. The number of students who take the SAT and ACT has been holding steady because enough schools still use them. Yet the UC is by far the largest university system in the country, and if it throws out testing the admissions landscape would fundamentally change.

Several UC regents are on record criticizing the test as unfair to the underprivileged. Governor Gavin Newsom, who appoints most regents, said last month that tests exacerbate “the inequities for underrepresented students.” A UC faculty task force will give recommendations early next year.

Read More [[link removed]] Parody Of A Climate Trial

Well, that was anti-climactic. New York’s attorney general spent the past three weeks in state court trying to prove that Exxon Mobil deceived investors with its climate-change disclosures. The trial ended this week with the AG dropping two charges of fraud, proving the lawsuit’s dirty political provenance.

To recap: In 2015 former AG Eric Schneiderman launched a sprawling probe aimed at showing that Exxon deceived the public about what it knew about CO2’s climate harms. The AG combed four million pages of documents and interviewed dozens of employees, but well after well ran dry. Then last year the AG’s office sued Exxon for deceiving itself.

The suit claims Exxon told investors that it was projecting a $80 per ton “proxy cost” of carbon in 2040 but had used lower greenhouse-gas cost calculations internally to forecast profitability of particular investments. The prosecutors were the real confused party.

Read More [[link removed]] California Business Roundtable 1301 I Street, Sacramento, CA 95814 916.553.4093 | [[link removed]] Web Version [link removed] | Update Preferences [link removed] | Unsubscribe [link removed]