Golden State Plans to Go Green

California has announced a new plan to drastically cut greenhouse emissions with sweeping state regulations across almost all industries. The state’s Air Resources Board says that the new rules will boost California’s economy, by pushing companies toward innovation, resulting in a more competitive marketplace.

Some groups, like the Western States Petroleum Association, aren’t convinced. Chief operating officer Cathy Reheis-Boyd pointed to unforeseen spikes in the price of carbon as an example, according to the Christian Science Monitor. Others worry that consumers could feel changes in their pocketbooks before economic gains come about.

Much of California’s business community (including clean technology companies) actually welcome the new climate plan because it could mean a competitive advantage for the golden state.