On July 22, 2010 BC3 co-sponsored a Bay Area Council debate regarding the economics of AB32 at BC3 member Wendel, Rosen, Black & Dean LLP, 1111 Broadway, Oakland. A packed conference room heard from a variety of speakers on both sides of Proposition 23, the initiative to suspend California's global warming law. Speakers included Michael Hanemann, Chancellor's Professor in the Department of Agricultural & Resource Economics at UC Berkeley, Aaron Singer, President & CEO of Pacific Carbon Exchange, Dave Fogarty, Project Director at Woodward & McDowell, and Don Simon, Partner at Wendel, Rosen, Black & Dean.

After an introduction by Bay Area Council President Jim Wunderman, UC Berkeley economist Michael Hanemann explained the limitations of models relied upon by the opponents of AB32, noting that these models largely ignore the benefits of AB32, such as job creation, technology innovation, and increased energy efficiency. The audience then heard from Aaron Singer of Pacific Carbon Exchange, who discussed the benefits of cap & trade versus a carbon tax, followed by Dave Fogarty of the Yes on 23 campaign, who argued that California cannot currently afford the economic costs associated with AB32. The final speaker was Don Simon, who refuted many of Dave Fogarty's claims, and explained that we can only avoid the immense costs of climate change by leading the nation towards carbon legislation. Audience members were then invited to ask questions, and the subsequent discussion touched on everything from the economic benefits of solar paneling to ways in which AB32 proponents can counter the fear tactics being used by the other side. The event concluded with a reception where audience members could network and continue the discusussion of AB32 economics.

For more information on the event and the economics of AB32, please see the resources section, including notes from the event, background on AB32 economics, and links to both sides of the Proposition 23 campaign.