Showing posts with label Valero Corp.. Show all posts
Showing posts with label Valero Corp.. Show all posts

Tuesday, October 5, 2010

Oil industry aids effort to suspend CA climate law

COMMERCIAL LAW
SACRAMENTO, Calif. — With major contributions from the oil industry, supporters of a ballot initiative to suspend California's landmark greenhouse gas emissions law reported a fundraising tally Tuesday of more than $5.2 million in the past 3 months.

The numbers disclosed by the Yes on 23 campaign reflected the continued backing of three out-of-state oil companies — Valero Corp. and Tesoro Corp. of Texas, and Flint Hills Resources, a Wichita, Kan.-based company owned by Koch Industries.

The companies contributed a combined $5 million during the period ending September 30.

In all, the campaign has raised $8.3 million during the first nine months of the year and has $3.1 million remaining cash on hand.

Opponents of the initiative said they expected the petroleum industry to keep pouring money into Proposition 23 before the November 2 vote.