The article quotes state Sen. Steve Hobbs as saying a clean-fuels standard currently before the Legislature would bring “nothing back to the state of Washington.” I invest in the clean-tech sector as a member of E8 (a Seattle-based network of investors focused on the clean-tech sector), and I vehemently disagree with the senator’s assessment.
Clean fuels standards have a track record of success on the West Coast, reducing carbon emissions and toxic air pollution. Clean-fuels standards have also been proven effective at stimulating economic growth by sending a clear market signal that draws investment and drives job creation to the clean-fuels sector. For an illustration of a clean-fuels standard’s potential economic benefits, look no further than California. Its clean-fuels program took effect in 2011, and it has proved to be a powerful catalyst for their clean economy, with more than $2 billion invested in clean-fuels production, which has helped create more than 300 companies and employ more than 20,000 workers.
That adds up to a whole lot more than nothing. It’s time for Washington to send a clear signal that we are committed to investing in our state and reap the benefits our neighbors are already enjoying.
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