Prop 87 Tab Breaks Record.

According to the San Diego Union Tribune, the combined spending on Prop 87 by "pro" and "con" forces has set a new record for California-- $105 million, so far...

Just to recap, Prop 87 seeks to put a tax on oil production to pay for alternative energy R&D. According to the article in the Union Trib:

The tax would be based on a sliding scale from 1.5 percent to 6 percent, depending on the world price, with higher oil prices increasing the tax rate.

At its highest level, the 6 percent tax would add $3.60 to a barrel selling for $60. It could raise up to $485 million a year, and it would end once $4 billion is collected.

Prop 87 campaign spending sets record [San Diego Union Tribune]