A story published today from California Watch spotlights well-known Texas oil company Valero Energy Corp.

At issue is a November ballot measure that would suspend the Global Warming Solutions Act of 2006, California's global warming law, until unemployment reaches 5.5 percent. Currently, California’s unemployment rate is 12.3 percent.

Valero supports the suspension and is backing that support with lots of campaign cash. Indeed, the company is the largest single contributor to the campaign.

From California Watch:

Valero Energy Corp. has given hundreds of thousands of dollars in additional contributions to a November ballot initiative that would suspend California’s global warming law until unemployment falls significantly.

Valero, a Texas-based oil company, has been the largest contributor to the campaign, donating more than $500,000 since February. This month, in filings with the secretary of state's office, the California Jobs Initiative acknowledged two more contributions from Valero totaling $550,000, bringing the company's total contributions to the campaign to more than $1 million.

The company said it is backing the measure because it believes the 2006 act is, in part, sinking California's economy.

More from California Watch:

Valero owns two refineries in California and around 80 company-owned gas stations. It also supports around 800 other stations that carry its brand and employs around 1,500 people with a payroll in excess of $20 million.

Bill Day, a spokesman for Valero, said the company supports the initiative because it is concerned that the state's global warming regulations would be too much for California’s faltering economy to bear.

“Valero has proudly supported the California Jobs Initiative because we feel it is the best way for Californians to express their opinions on whether a repressive cap and trade regime should be implemented during an economic slowdown,” Day said.

Critics have been attacking Valero's involvement in the campaign. A spokesman fighting the suspension called the effort a "special-interest baliout for oil companies."

For more information about Valero's involvement and about the pros and cons of the measure, check out this article in Ballotpedia.

Trent Seibert can be reached at 832-316-4994 or at trent@texaswatchdog.org.

Photo by Flickr user TheTruthAbout..., used via a Creative Commons license