[courtesy of The California Majority Report]

Maybe we are finally doing something about global warming: theHouse of Representatives has passed a major energy bill, by a 235-181vote, that would increase vehicle fuel economy standards by 40% to35 miles per gallon, reports the LA Times. But the bill faces a tougherbattle in the Senate, and is strongly opposed by the BushAdministration, which is concerned about measures that would repeal $13billion in tax breaks for oil companies, and require utilities togenerate more power from alternative energy sources. Should it pass, itwould mark the first time fuel economy standards have been raised since1975.

Economic analysts are making dismal predictions about the California economy in the next year, reports the San Francisco Chronicle. Tighter creditand falling home sales will contribute to slow growth and an elevatedunemployment rate. The state budget deficit is also expected to widen,and decreased public spending is in turn expected to slow down therecovery.