The LA Times highlights a recent funding trend for Prop 23 and 26: As the oil industry funded Prop 23 campaign slows down in the face of widespread opposition, its money has started to pour into the Prop 26 campaign coffers instead. Why? Because the oil industry understands that while Prop 26 doesn’t repeal California’s landmark global warming law, it would "hobble it" badly by starving it of necessary funding.
According to the LA Times:
Oil, tobacco and alcohol companies are the primary funders of the "stop hidden taxes" campaign, which has so far raised $11.7 million to pass Proposition 26 and defeat Proposition 25, an initiative that would allow the state budget to be passed by a simple majority instead of a two-thirds majority. Oil and gas companies account for the largest portion of contributions, $3.5million, including $2.5 million from Chevron Corp., the biggest California-based oil company. The California Chamber of Commerce has contributed $3.3 million, and Philip Morris USA, the tobacco giant, gave $1 million.
Warner Chabot, chief executive of the California League of Conservation Voters, hits the nail on the head: "Prop. 26 would eviscerate the funding of all air- and water-pollution programs, even oil-spill cleanup. If 26 passes, it is a Christmas present to the oil industry, the tobacco industry and every other polluting industry. The cost of regulation will shift from the industry to taxpayers."