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Article: Vinod Khosla finances clean energy initiative.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- April 4, 2006
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Vinod Khosla finances clean energy initiative
Silicon Valley, Apr 3 (PTI) In a bid to reduce American dependence on oil "that feeds Middle east terrorism," prominent Indian-American venture capitalist Vinod Khosla is financing a state-wide ballot initiative to get Californians to tax oil producers and endorse clean energy.
The initiative would bar oil companies from passing the tax on to consumers in the form of higher pump prices. Before a vote on it, the initiative needs to get over 500,000 signatures just to make it to the ballot.
If passed, it could raise as much as $380 million a year to develop alternative fuels and reduce the state ...